Wealth Enhancement Advisory Services LLC Boosts Position in iShares Bitcoin Trust

Wealth Enhancement Advisory Services LLC has recently increased its investment in iShares Bitcoin Trust (NASDAQ:IBIT – Free Report) by 0.4% during the fourth quarter. According to Holdings Channel, the firm now owns a total of 88,837 shares of the company’s stock after acquiring an additional 320 shares in this period. As of the end of the latest reporting period, the value of Wealth Enhancement Advisory Services LLC’s investment in iShares Bitcoin Trust amounted to approximately $4,713,000.

In addition to Wealth Enhancement Advisory Services LLC, several other institutional investors and hedge funds have also adjusted their holdings in the iShares Bitcoin Trust. For instance, Parallel Advisors LLC raised its stake by 37.5% in the second quarter, increasing its ownership to 14,859 shares, which are valued at $507,000 after purchasing an extra 4,050 shares. Similarly, Wealthspire Advisors LLC acquired a new position in iShares Bitcoin Trust during the same quarter, valued at $526,000.

Meanwhile, Envestnet Asset Management Inc. increased its holdings by 42.6% in the second quarter, amassing 108,497 shares valued at $3,704,000 after buying 32,416 more shares. Other notable investments included Brown Brothers Harriman & Co., which purchased a new stake in iShares Bitcoin Trust valued at roughly $43,000, and Black Diamond Financial LLC, investing about $349,000 in a new position during the second quarter.

Current Performance of iShares Bitcoin Trust

As for the performance of iShares Bitcoin Trust, on Tuesday, the stock opened at $53.22. The company has a 50-day moving average of $53.72 and a two-hundred day moving average of $41.89. Over the past year, the stock reached a low of $22.02 and a high of $61.75.

Description of iShares Bitcoin Trust

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund launched on January 5, 2024, by BlackRock. The fund primarily focuses on investing in long positions in Bitcoin while shorting U.S. dollars. It is a passively managed fund with the objective of tracking the spot price of Bitcoin.

Further Information

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Want to see what other hedge funds are holding IBIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iShares Bitcoin Trust (NASDAQ:IBIT – Free Report).

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investment, stocks, Bitcoin