Petredis Investment Advisors LLC Acquires Shares in iShares Bitcoin Trust

In a recent filing with the Securities and Exchange Commission, Petredis Investment Advisors LLC disclosed that it has made a new investment in the iShares Bitcoin Trust (NASDAQ:IBIT - Free Report) during the fourth quarter. The institutional investor acquired 4,912 shares of IBIT, which is estimated to be valued around $261,000.

Other institutional investors have also adjusted their positions in the iShares Bitcoin Trust. For instance, Union Savings Bank entered a new investment in IBIT during the fourth quarter, valued at approximately $25,000. City Holding Co. increased its holdings by 95.2% in the same period, resulting in a total of 488 shares valued at $26,000 after purchasing an additional 238 shares. Additionally, PSI Advisors LLC entered a new stake worth $30,000, while Harel Insurance Investments & Financial Services Ltd. acquired shares valued at $39,000. Meanwhile, Asset Dedication LLC raised its position by 52.4% in the preceding quarter, amassing 811 shares valued at $29,000 after buying 279 additional shares.

Current Performance of iShares Bitcoin Trust

As of Friday, shares of NASDAQ IBIT opened at $59.70. The stock has shown a fifty-day moving average price of $55.77 and a two-hundred-day moving average price of $43.30. Over the past year, the iShares Bitcoin Trust has reached a low of $22.58 and a high of $61.75, indicating significant price fluctuations.

About iShares Bitcoin Trust

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund that primarily invests in long positions in Bitcoin while taking short positions in USD currency. This passively managed fund aims to align its performance with the spot price of Bitcoin. Launched on January 5, 2024, IBIT is managed and issued by BlackRock.

Further Insights

Investors interested in exploring additional options may find other attractive stocks that analysts recommend over the iShares Bitcoin Trust. It’s also essential to consider earnings reports, as they can influence investment decisions. Moreover, there are projections concerning certain stocks that are anticipated to perform impressively in the coming years.

For more insights on institutional holdings and trends in investments, it may be beneficial to explore dedicated financial platforms that track such activities. They can provide detailed information about what other hedge funds are holding in their portfolios.

investment, Bitcoin, shares