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

Acorn Financial Advisory Services Inc. ADV has made a significant adjustment to its investment portfolio by reducing its holdings in iShares Bitcoin Trust (NASDAQ: IBIT) by 46.2% in the third quarter, according to the latest 13F filing with the Securities and Exchange Commission (SEC). After divesting 31,140 shares during this period, the fund's total ownership stands at 36,282 shares of the trust.

As of the end of the most recent reporting period, Acorn Financial's investment in iShares Bitcoin Trust was valued at approximately $1,311,000.

Changes in Institutional Holdings

Other institutional investors have also recently adjusted their stakes in iShares Bitcoin Trust. For instance, Glass Jacobson Investment Advisors LLC entered a new position in the second quarter valued at around $26,000. Meanwhile, Asset Dedication LLC increased its stake by 52.4% in the third quarter, now holding 811 shares worth about $29,000 after acquiring an additional 279 shares.

Furthermore, Creekmur Asset Management LLC and International Assets Investment Management LLC each acquired new positions in the trust, with valuations of approximately $30,000 and $31,000 respectively. Also, Thurston Springer Miller Herd & Titak Inc. made a new investment in iShares Bitcoin Trust valued at about $36,000 during the second quarter.

Current Stock Performance of iShares Bitcoin Trust

On Friday, shares of iShares Bitcoin Trust traded up by $0.09, reaching a price of $43.69. The trading volume for the day was 44,183,719 shares, exceeding the average volume of 31,394,033 shares.

The trust's stock has seen significant fluctuations, with a 52-week low of $22.02 and a high of $44.09. Its 50-day moving average is currently at $36.55, while the 200-day moving average stands at $36.24.

About iShares Bitcoin Trust

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund that primarily invests in Bitcoin while also taking short positions against USD. It is a passively managed fund aimed at tracking the spot price of Bitcoin. Launched on January 5, 2024, it is issued by BlackRock.

Conclusion

Investors interested in iShares Bitcoin Trust should be aware of the recent changes in institutional holdings as they can indicate shifts in market sentiment. With multiple funds altering their investments in the trust, it's crucial for potential investors to stay informed.

Acorn, Bitcoin, Investments