iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 11,960,000 shares, an increase of 22.0% from the September 30th total of 9,800,000 shares. Based on an average daily trading volume, of 27,501,700 shares, the short-interest ratio is currently 0.4 days.
iShares Bitcoin Trust Stock Performance
Shares of iShares Bitcoin Trust stock traded down $0.45 during mid-day trading on Wednesday, hitting $40.88. The stock had a trading volume of 31,629,340 shares, compared to its average volume of 30,734,523. The firm has a 50-day moving average of $35.54 and a two-hundred day moving average of $35.97. iShares Bitcoin Trust has a 12-month low of $22.02 and a 12-month high of $41.99.
Institutional Trading of iShares Bitcoin Trust
Several hedge funds have recently made changes to their positions in IBIT. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of iShares Bitcoin Trust in the 1st quarter valued at approximately $3,416,000. SteelPeak Wealth LLC purchased a new position in shares of iShares Bitcoin Trust during the 1st quarter worth approximately $272,000. Compass Ion Advisors LLC purchased a new position in shares of iShares Bitcoin Trust during the 1st quarter worth approximately $345,000. AlphaMark Advisors LLC purchased a new position in shares of iShares Bitcoin Trust during the 1st quarter worth approximately $103,000. Finally, Panoramic Investment Advisors LLC purchased a new position in shares of iShares Bitcoin Trust during the 1st quarter worth approximately $4,921,000.
About iShares Bitcoin Trust
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.
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