Udine Wealth Management Inc. Makes New Investment in iShares Bitcoin Trust (NASDAQ:IBIT)

Udine Wealth Management Inc. purchased a new position in shares of iShares Bitcoin Trust (NASDAQ:IBIT) during the first quarter, Holdings Channel.com reports. The fund purchased 50,280 shares of the company’s stock, valued at approximately $2,035,000. iShares Bitcoin Trust comprises about 1.5% of Udine Wealth Management Inc.’s portfolio, making the stock its 18th largest position.

A number of other large investors have also modified their holdings of the business. Brookstone Capital Management acquired a new position in shares of iShares Bitcoin Trust during the 1st quarter worth approximately $7,017,000. Fiduciary Alliance LLC acquired a new position in iShares Bitcoin Trust in the 1st quarter valued at $5,380,000. Epiq Partners LLC acquired a new position in iShares Bitcoin Trust in the 1st quarter valued at $4,207,000. Kingswood Wealth Advisors LLC acquired a new position in iShares Bitcoin Trust in the 1st quarter valued at $3,983,000. Finally, Traynor Capital Management Inc. acquired a new position in iShares Bitcoin Trust in the 1st quarter valued at $3,666,000.

iShares Bitcoin Trust Stock Up 5.5 %

NASDAQ:IBIT traded up $1.88 during trading hours on Monday, hitting $36.02. The company had a trading volume of 7,710,570 shares, compared to its average volume of 32,189,133. The business’s 50-day moving average price is $37.18. iShares Bitcoin Trust has a 1 year low of $22.02 and a 1 year 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.