Ranch Capital Advisors Inc. Purchases New Stake in iShares Bitcoin Trust (NASDAQ:IBIT)

Ranch Capital Advisors Inc. purchased a new position in iShares Bitcoin Trust (NASDAQ:IBIT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,408 shares of the company’s stock, valued at approximately $458,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBIT. Bracebridge Capital LLC bought a new position in iShares Bitcoin Trust during the first quarter worth $100,639,000. Titan Global Capital Management USA LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter worth about $65,558,000. Murchinson Ltd. acquired a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $35,531,000. Hunting Hill Global Capital LLC bought a new stake in shares of iShares Bitcoin Trust during the 2nd quarter valued at about $25,614,000. Finally, Virtu Financial LLC acquired a new stake in iShares Bitcoin Trust during the second quarter worth about $22,273,000.

iShares Bitcoin Trust Stock Performance

Shares of IBIT stock opened at $36.01 on Friday. The business has a 50 day moving average of $34.65 and a two-hundred day moving average of $36.41. iShares Bitcoin Trust has a 52 week low of $22.02 and a 52 week high of $41.99.

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.