iShares Bitcoin Trust ETF $IBIT Holdings Raised by Powell Investment Advisors LLC

Powell Investment Advisors LLC raised its stake in shares of iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 53.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 52,880 shares of the company’s stock after purchasing an additional 18,356 shares during the period. iShares Bitcoin Trust ETF accounts for about 0.7% of Powell Investment Advisors LLC’s holdings, making the stock its 24th biggest position. Powell Investment Advisors LLC’s holdings in iShares Bitcoin Trust ETF were worth $2,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new stake in shares of iShares Bitcoin Trust ETF during the 4th quarter valued at about $711,000. Procyon Advisors LLC increased its holdings in iShares Bitcoin Trust ETF by 920.1% in the fourth quarter. Procyon Advisors LLC now owns 227,604 shares of the company’s stock worth $11,301,000 after buying an additional 205,292 shares during the last quarter. Step Capital Management Pte. Ltd. acquired a new position in iShares Bitcoin Trust ETF in the fourth quarter worth approximately $3,724,000. Columbus Macro LLC increased its holdings in iShares Bitcoin Trust ETF by 77.0% in the fourth quarter. Columbus Macro LLC now owns 32,830 shares of the company’s stock worth $1,630,000 after buying an additional 14,284 shares during the last quarter. Finally, BIP Wealth LLC raised its position in iShares Bitcoin Trust ETF by 220.4% during the fourth quarter. BIP Wealth LLC now owns 27,207 shares of the company’s stock valued at $1,351,000 after acquiring an additional 18,716 shares in the last quarter.

iShares Bitcoin Trust ETF Trading Up 1.0%

NASDAQ IBIT opened at $34.18 on Tuesday. The company has a 50 day moving average price of $40.65 and a two-hundred day moving average price of $42.96. iShares Bitcoin Trust ETF has a 12-month low of $32.84 and a 12-month high of $71.82.

Key Headlines Impacting iShares Bitcoin Trust ETF

Here are the key news stories impacting iShares Bitcoin Trust ETF this week:

• Negative Sentiment: Bitcoin ETF outflows crossed a record $4 billion in June, signaling sustained institutional selling pressure across the category. Bitcoin ETF outflows cross record $4 billion in June
• Negative Sentiment: Reports said IBIT suffered about $1.3 billion in outflows as investors reduced crypto exposure amid geopolitical uncertainty and weaker demand for “safe money” flows. BlackRock Bitcoin News: IBIT Suffers $1.3Bn Outflow as Iran Shakes Safe Money
• Negative Sentiment: More commentary highlighted record-high Bitcoin ETF outflows and growing worries about a broader “crypto winter,” which is weighing on IBIT sentiment. Bitcoin ETF Outflows Hit Record Highs As Crypto Winter Sets In
• Negative Sentiment: IBIT investors are being reported as deeply underwater, with the average holder now down significantly after Bitcoin’s decline, adding to selling pressure and negative sentiment. BlackRock’s IBIT Sees Average Investor Down 40% Amid Bitcoin Drop
• Neutral Sentiment: IBIT reportedly surpassed Fidelity in assets under management, but that relative scale milestone is being overshadowed by the broader selloff. iShares Bitcoin Trust ETF Tops Fidelity in Assets Under Management
• Neutral Sentiment: Articles promoting Bitcoin ETFs as a safer way to gain crypto exposure may support long-term interest in IBIT, but they do not offset the current outflow trend. You Want Bitcoin, Not the Exchange Horror Stories. These 3 ETFs Get You $25K in Crypto, No Sketchy Apps

About iShares Bitcoin Trust ETF

The IShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the spot price of Bitcoin. IBIT was launched on Jan 5, 2024 and is issued by BlackRock.