Avidian Wealth Enterprises LLC Has $720,000 Position in iShares Bitcoin Trust (NASDAQ:IBIT)

Avidian Wealth Enterprises LLC lifted its holdings in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 40.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 19,931 shares of the company’s stock after buying an additional 5,724 shares during the period. Avidian Wealth Enterprises LLC’s holdings in iShares Bitcoin Trust were worth $720,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in shares of iShares Bitcoin Trust in the 1st quarter valued at approximately $42,000. Larson Financial Group LLC bought a new stake in iShares Bitcoin Trust during the first quarter worth $142,000. Csenge Advisory Group acquired a new stake in iShares Bitcoin Trust in the first quarter valued at $569,000. Manchester Capital Management LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $279,000. Finally, VitalStone Financial LLC acquired a new position in shares of iShares Bitcoin Trust during the 1st quarter worth about $104,000.

iShares Bitcoin Trust Trading Up 9.8 %

Shares of NASDAQ:IBIT opened at $43.40 on Thursday. iShares Bitcoin Trust has a 52-week low of $22.02 and a 52-week high of $43.63. The company has a 50-day simple moving average of $36.15 and a 200 day simple moving average of $36.15.

iShares Bitcoin Trust Profile

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.