iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 2.4% – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT) shares fell 2.4% on Monday . The company traded as low as $50.69 and last traded at $52.53. 23,994,427 shares changed hands during trading, a decline of 43% from the average session volume of 41,735,969 shares. The stock had previously closed at $53.84.

iShares Bitcoin Trust Price Performance

The company’s 50-day simple moving average is $53.42 and its 200-day simple moving average is $41.76.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBIT. Asset Dedication LLC raised its position in shares of iShares Bitcoin Trust by 52.4% during the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its holdings in iShares Bitcoin Trust by 40.2% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock worth $38,000 after purchasing an additional 304 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of iShares Bitcoin Trust by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 88,837 shares of the company’s stock worth $4,713,000 after purchasing an additional 320 shares during the period. Doliver Advisors LP boosted its stake in shares of iShares Bitcoin Trust by 4.9% in the 3rd quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock valued at $273,000 after purchasing an additional 350 shares during the last quarter. Finally, Summit Global Investments boosted its stake in shares of iShares Bitcoin Trust by 3.3% in the 3rd quarter. Summit Global Investments now owns 11,214 shares of the company’s stock valued at $405,000 after purchasing an additional 355 shares during 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.