Deltec Asset Management Reduces Stake in iShares Bitcoin Trust

Deltec Asset Management LLC has made adjustments to its investment in iShares Bitcoin Trust (NASDAQ:IBIT - Free Report), according to the latest filing with the Securities & Exchange Commission. In the third quarter, the firm reduced its stake by 6.9%, now holding 242,775 shares after selling 17,875 shares during this period. This reduction reflects a strategic decision, as iShares Bitcoin Trust only accounts for approximately 1.7% of Deltec's overall portfolio, making it the firm’s 17th largest investment. As of this recent filing, the value of Deltec's holdings in iShares Bitcoin Trust amounts to roughly $8,771,000.

Other prominent investors have also reevaluated their positions in iShares Bitcoin Trust. For instance, Wealth Enhancement Advisory Services LLC initiated a new investment in the first quarter, acquiring shares worth $3,416,000. Additionally, Naviter Wealth LLC made a new purchase valued at about $257,000, while Financial Sense Advisors Inc. acquired a new stake worth approximately $1,278,000. Accel Wealth Management also entered into a new investment with around $467,000, and North Star Investment Management Corp. joined in with a new position valued at $77,000.

iShares Bitcoin Trust Stock Overview

The stock of iShares Bitcoin Trust opened at $41.33 on a recent Wednesday, reflecting the current market fluctuations. Over the last 12 months, the stock has experienced a low of $22.02 and a high of $41.99. Investors might find the 50-day moving average at $35.54 alongside a 200-day moving average of $35.97, indicating relevant trends in its performance.

Understanding iShares Bitcoin Trust

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund focused primarily on long positions in Bitcoin while taking short positions in U.S. dollars. It is passively managed and aims to mirror the spot price movements of Bitcoin. Launched on January 5, 2024, this fund is issued by BlackRock.

Further Information

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