iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 4.1%

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price dropped 4.1% during mid-day trading on Wednesday . The company traded as low as $31.61 and last traded at $31.66. Approximately 5,365,258 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 30,653,473 shares. The stock had previously closed at $33.00.

iShares Bitcoin Trust Stock Up 1.4 %

The company’s fifty day moving average is $34.48 and its 200 day moving average is $36.40.

Hedge Funds Weigh In On iShares Bitcoin Trust

Hedge funds have recently bought and sold shares of the company. Bfsg LLC raised its holdings in shares of iShares Bitcoin Trust by 34.7% in the 2nd quarter. Bfsg LLC now owns 1,360 shares of the company’s stock valued at $46,000 after acquiring an additional 350 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in iShares Bitcoin Trust by 39.1% during the second quarter. Cedar Mountain Advisors LLC now owns 1,362 shares of the company’s stock valued at $46,000 after purchasing an additional 383 shares during the last quarter. Csenge Advisory Group grew its stake in iShares Bitcoin Trust by 3.0% in the 2nd quarter. Csenge Advisory Group now owns 14,477 shares of the company’s stock worth $494,000 after buying an additional 423 shares in the last quarter. Masso Torrence Wealth Management Inc. increased its holdings in shares of iShares Bitcoin Trust by 5.3% in the 2nd quarter. Masso Torrence Wealth Management Inc. now owns 8,662 shares of the company’s stock worth $296,000 after buying an additional 435 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC raised its position in shares of iShares Bitcoin Trust by 14.6% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 4,226 shares of the company’s stock valued at $144,000 after buying an additional 539 shares in the last quarter.

iShares Bitcoin Trust Company Profile

The IShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the spot price of Bitcoin. IBIT was launched on Jan 5, 2024 and is issued by BlackRock.