iShares Bitcoin Trust (NASDAQ:IBIT - Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 6,410,000 shares, a drop of 54.4% from the January 31st total of 14,070,000 shares. Based on an average daily volume of 49,000,800 shares, the days-to-cover ratio is presently 0.1 days.
iShares Bitcoin Trust Trading Up 4.2 %
Shares of NASDAQ IBIT traded up $2.05 during mid-day trading on Wednesday, reaching $51.44. 48,610,183 shares of the company's stock were exchanged, compared to its average volume of 47,659,941. The firm has a 50-day moving average price of $55.04 and a two-hundred day moving average price of $47.03. iShares Bitcoin Trust has a 52 week low of $28.23 and a 52 week high of $61.75.
Institutional Trading of iShares Bitcoin Trust
Several hedge funds have recently added to or reduced their stakes in the stock. Brevan Howard Capital Management LP purchased a new stake in shares of iShares Bitcoin Trust during the 4th quarter worth approximately $1,385,364,000. Symmetry Investments LP grew its holdings in iShares Bitcoin Trust by 3,605.8% during the fourth quarter. Symmetry Investments LP now owns 12,678,808 shares of the company's stock valued at $672,611,000 after purchasing an additional 12,336,673 shares during the period. Mubadala Investment Co PJSC purchased a new stake in iShares Bitcoin Trust in the fourth quarter worth $436,895,000. D. E. Shaw & Co. Inc. raised its stake in shares of iShares Bitcoin Trust by 344.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 9,667,431 shares of the company's stock valued at $512,857,000 after buying an additional 7,494,123 shares during the period. Finally, Jericho Capital Asset Management L.P. bought a new stake in shares of iShares Bitcoin Trust in the fourth quarter valued at $378,140,000.
iShares Bitcoin Trust Company Profile
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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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