iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 2% – What’s Next?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded down 2% during trading on Monday . The stock traded as low as $53.69 and last traded at $56.56. 33,431,794 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 47,144,141 shares. The stock had previously closed at $57.71.

iShares Bitcoin Trust Stock Down 0.2 %

The firm’s fifty day simple moving average is $56.19 and its 200 day simple moving average is $44.27.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Transcend Capital Advisors LLC grew its holdings in shares of iShares Bitcoin Trust by 90.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 93,543 shares of the company’s stock valued at $4,962,000 after purchasing an additional 44,338 shares during the last quarter. O Neil Global Advisors Inc. grew its holdings in shares of iShares Bitcoin Trust by 122.7% during the 4th quarter. O Neil Global Advisors Inc. now owns 34,300 shares of the company’s stock valued at $1,820,000 after purchasing an additional 18,900 shares during the last quarter. Compass Capital Corp MA ADV bought a new stake in shares of iShares Bitcoin Trust during the 4th quarter valued at approximately $2,184,000. WP Advisors LLC bought a new stake in shares of iShares Bitcoin Trust during the 4th quarter valued at approximately $637,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of iShares Bitcoin Trust during the 4th quarter valued at approximately $1,883,000.

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.