Sowell Financial Services LLC Purchases New Shares in iShares Bitcoin Trust ETF (NASDAQ:IBIT)

Sowell Financial Services LLC purchased a new stake in iShares Bitcoin Trust ETF (NASDAQ:IBIT) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 10,380 shares of the company’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. NINE MASTS CAPITAL Ltd boosted its position in shares of iShares Bitcoin Trust ETF by 29.6% in the 4th quarter. NINE MASTS CAPITAL Ltd now owns 1,518,200 shares of the company’s stock valued at $80,541,000 after purchasing an additional 346,918 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of iShares Bitcoin Trust ETF by 71.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 40,791 shares of the company’s stock valued at $2,164,000 after purchasing an additional 16,982 shares during the period. Edge Capital Group LLC boosted its position in shares of iShares Bitcoin Trust ETF by 34.3% in the 4th quarter. Edge Capital Group LLC now owns 77,251 shares of the company’s stock valued at $4,098,000 after purchasing an additional 19,745 shares during the period. RWQ Financial Management Services Inc. boosted its position in shares of iShares Bitcoin Trust ETF by 2,069.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 169,194 shares of the company’s stock valued at $8,976,000 after purchasing an additional 161,394 shares during the period. Finally, Orvieto Partners L.P. acquired a new position in shares of iShares Bitcoin Trust ETF in the 4th quarter valued at $796,000.

iShares Bitcoin Trust ETF Trading Down 0.9%

NASDAQ:IBIT opened at $58.97 on Friday. iShares Bitcoin Trust ETF has a 1-year low of $28.23 and a 1-year high of $63.70. The stock has a fifty day simple moving average of $56.99 and a 200 day simple moving average of $54.38.

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.