How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) was feeling more positive today. It is now up 1.66% over the past 5 days and is 18.28% higher in the year-to-date.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
According to TipRanks technical analysis, the IBIT is now at a Strong Sell consensus based on 11 Bearish, 5 Neutral and 6 Bullish ratings.
Based on the activity of 825,627 investors in the recent quarter, it has scored above-sector-average very positive sentiment. Those investors aged between 35 and 55 have been the most active buyers.
In total, 1.9% of all portfolios hold IBIT.
Today’s IBIT Performance
Today, the IBIT was up 3.18% at $62.392. The main driver was the price of Bitcoin, which increased 1.32% to $109,726.22.
It came despite Bitcoin heading for its worst October performance since 2018 amid heightened market volatility and as investors’ risk appetite turned squeamish. That’s down to a move away from risk assets, a recovery in the U.S. dollar and the Fed cutting interest rates this week.
However, this did not deter Moon Inc. announcing a further acquisition of approximately 6.12 units of Bitcoin for around HK$5,242,000, funded by the company’s cash reserves. International Business Settlement Holdings Limited has also announced a strategic plan to acquire additional Bitcoins, with a potential investment of up to HK$200 million, as part of its treasury management strategy.
Power up your ETF investing with TipRanks. Discover the Top Equity ETFs with High Upside Potential, carefully curated based on TipRanks’ analysis.