59 North Capital Management LP Boosts Stake in iShares Bitcoin Trust ETF $IBIT

59 North Capital Management LP lifted its stake in iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 50.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,921,034 shares of the company’s stock after acquiring an additional 1,319,501 shares during the period. iShares Bitcoin Trust ETF makes up 6.1% of 59 North Capital Management LP’s holdings, making the stock its 10th biggest holding. 59 North Capital Management LP’s holdings in iShares Bitcoin Trust ETF were worth $194,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IBIT. Guggenheim Capital LLC lifted its holdings in shares of iShares Bitcoin Trust ETF by 1.3% in the fourth quarter. Guggenheim Capital LLC now owns 36,753 shares of the company’s stock valued at $1,825,000 after purchasing an additional 478 shares in the last quarter. Pennington Partners & CO. LLC lifted its holdings in shares of iShares Bitcoin Trust ETF by 100.9% in the fourth quarter. Pennington Partners & CO. LLC now owns 71,059 shares of the company’s stock valued at $3,528,000 after purchasing an additional 35,689 shares in the last quarter. Avondale Wealth Management lifted its holdings in shares of iShares Bitcoin Trust ETF by 6.3% in the fourth quarter. Avondale Wealth Management now owns 13,400 shares of the company’s stock valued at $665,000 after purchasing an additional 800 shares in the last quarter. Aequim Alternative Investments LP lifted its holdings in shares of iShares Bitcoin Trust ETF by 30.0% in the fourth quarter. Aequim Alternative Investments LP now owns 325,000 shares of the company’s stock valued at $16,136,000 after purchasing an additional 75,000 shares in the last quarter. Finally, EFG International AG bought a new stake in shares of iShares Bitcoin Trust ETF in the fourth quarter valued at about $4,887,000.

iShares Bitcoin Trust ETF Stock Performance

Shares of iShares Bitcoin Trust ETF stock opened at $36.36 on Thursday. The stock’s 50-day moving average is $41.71 and its 200-day moving average is $43.90. iShares Bitcoin Trust ETF has a one year low of $33.48 and a one year high of $71.82.

iShares Bitcoin Trust ETF 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.