Acorn Financial Advisory Services Inc. Reduces Stake in iShares Bitcoin Trust

Acorn Financial Advisory Services Inc. ADV has significantly reduced its investment in iShares Bitcoin Trust (NASDAQ:IBIT) by 46.2% during the third quarter, according to its latest 13F filing submitted to the Securities and Exchange Commission (SEC). Following this reduction, the fund currently holds 36,282 shares of iShares Bitcoin Trust after selling 31,140 shares in the quarter. The total value of Acorn Financial Advisory Services Inc. ADV's stake in the fund was approximately $1,311,000 as of the latest reporting period.

In recent months, other institutional investors have also adjusted their positions in iShares Bitcoin Trust. For instance, Glass Jacobson Investment Advisors LLC initiated a new investment in the second quarter, valued at around $26,000. Meanwhile, Asset Dedication LLC increased its stake by 52.4% during the third quarter, now owning 811 shares worth about $29,000 after adding 279 shares in the last quarter. Similarly, Creekmur Asset Management LLC gained a new position valued at about $30,000 during the first quarter, while International Assets Investment Management LLC and Thurston Springer Miller Herd & Titak Inc. made new investments in the second quarter valued at roughly $31,000 and $36,000 respectively.

Performance of iShares Bitcoin Trust Stock

During midday trading on Friday, shares of iShares Bitcoin Trust increased by $0.09, reaching a trading price of $43.69. The stock recorded a trading volume of 44,183,719 shares, which is higher than its average volume of 31,394,033 shares. Over the past year, iShares Bitcoin Trust has experienced a low of $22.02 and a high of $44.09. Currently, the stock's 50-day moving average stands at $36.55, while the 200-day moving average is $36.24.

Overview of iShares Bitcoin Trust

The iShares Bitcoin Trust (NASDAQ:IBIT) is an exchange-traded fund (ETF) that primarily invests in Bitcoin and seeks to track the spot price of Bitcoin. This passively managed fund was launched by BlackRock on January 5, 2024.

Additional Information

What other hedge funds are holding IBIT? To discover the latest 13F filings and insider trades related to iShares Bitcoin Trust, investors can visit platforms that track these transactions.

Acorn, Bitcoin, Investments