iShares Bitcoin Trust (NASDAQ:IBIT) Experiences Significant Increase in Short Interest

The iShares Bitcoin Trust (NASDAQ:IBIT - Get Free Report) has witnessed a substantial rise in short interest during the month of November. As of November 30th, the total short interest reached 10,350,000 shares, marking an impressive increase of 176.7% from the short interest of 3,740,000 shares reported on November 15th. With an average daily trading volume of 43,660,900 shares, this results in a days-to-cover ratio of 0.2 days.

iShares Bitcoin Trust Alerts:

Institutional Investments in iShares Bitcoin Trust

Several hedge funds have recently modified their investments in the iShares Bitcoin Trust. For instance, IMC Chicago LLC entered a new position in the shares during the third quarter, valued at approximately $323,337,000. Aristeia Capital L.L.C. increased its stake by 47.2% in the second quarter and now holds 5,940,411 shares worth about $202,806,000 after acquiring an additional 1,903,644 shares last quarter. Additionally, Sculptor Capital LP grew its position by 188.1% during the same period, owning now 3,392,812 shares valued at $115,831,000 after adding another 2,215,107 shares. D. E. Shaw & Co. Inc. significantly raised its stake by 1,657.7% during the second quarter and presently owns 2,636,608 shares worth $90,014,000 after acquiring an additional 2,486,608 shares last quarter. Lastly, Point72 Asset Management L.P. established a new stake in iShares Bitcoin Trust in the second quarter, valued at around $56,965,000.

Current Stock Performance of iShares Bitcoin Trust

On midday trading Thursday, the iShares Bitcoin Trust (NASDAQ:IBIT) saw a decline of 1.4%, dropping $0.80 to reach $56.92. The stock's trading volume reached 38,643,312 shares, surpassing its average volume of 34,608,938. Over the past year, the stock has witnessed a low of $22.02 and a high of $59.16. The fifty-day moving average price stands at $45.62, while the 200-day moving average is at $39.05.

Overview of iShares Bitcoin Trust

The iShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund that mainly invests in Bitcoin while taking short positions in the US dollar. This fund is passively managed with the goal of tracking the spot price of Bitcoin. The iShares Bitcoin Trust was launched on January 5, 2024, and is issued by BlackRock.

Investment Considerations

Before considering an investment in iShares Bitcoin Trust, individuals may want to explore other options. Current analyst ratings indicate a 'Hold' status for IBIT, while other stocks are highlighted as potentially better buys. It is advisable for investors to conduct thorough research and consult with financial advisors to make informed decisions.

This article aims to provide an overview of the current status of iShares Bitcoin Trust and the broader implications for potential investors.

iShares, Bitcoin, ETFs