Acorn Financial Advisory Reduces Stake in iShares Bitcoin Trust

Acorn Financial Advisory Services Inc. ADV has reduced its investment in the iShares Bitcoin Trust (NASDAQ:IBIT - Free Report) by 46.2% during the third quarter. This information comes from its latest 13F filing submitted to the Securities and Exchange Commission (SEC). Following the sale of 31,140 shares, the fund now holds a total of 36,282 shares of the Bitcoin Trust.

At the conclusion of the most recent reporting period, Acorn Financial Advisory's holdings in the iShares Bitcoin Trust were valued at approximately $1,311,000.

Other institutional investors have also been adjusting their positions in the iShares Bitcoin Trust. For instance, Glass Jacobson Investment Advisors LLC established a new investment in the second quarter worth about $26,000. Meanwhile, Asset Dedication LLC increased its stake by 52.4% in the third quarter, now owning 811 shares valued at $29,000 after acquiring an additional 279 shares last quarter. Additionally, Creekmur Asset Management LLC invested approximately $30,000 in their new position during the first quarter. In the second quarter, International Assets Investment Management LLC and Thurston Springer Miller Herd & Titak Inc. also purchased new positions worth roughly $31,000 and $36,000, respectively.

iShares Bitcoin Trust Stock Performance

On Friday, iShares Bitcoin Trust shares saw a modest increase of $0.09, reaching a trading price of $43.69. The trading volume was significant, with 44,183,719 shares exchanged, compared to the average trading volume of 31,394,033 shares. Over the past year, the stock has fluctuated between a low of $22.02 and a high of $44.09. Currently, the 50-day moving average stands at $36.55, while the 200-day moving average is at $36.24.

iShares Bitcoin Trust Overview

The iShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund primarily focused on investing in long positions in Bitcoin while shorting USD currency. As a passively managed fund, it aims to replicate the spot price of Bitcoin. IBIT was established on January 5, 2024, and is issued by BlackRock.

Conclusion

Acorn Financial Advisory's decision to decrease its holdings in iShares Bitcoin Trust reflects ongoing adjustments in investor strategies in the cryptocurrency market.

Acorn, iShares, Bitcoin