iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report)’s stock price were down 3.3% on Friday . The company traded as low as $47.75 and last traded at $47.81. Approximately 14,393,533 shares traded hands during trading, a decline of 68% from the average daily volume of 44,802,949 shares. The stock had previously closed at $49.44.
iShares Bitcoin Trust Stock Performance
The firm’s 50 day moving average price is $52.64 and its two-hundred day moving average price is $48.78.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in IBIT. Fire Capital Management LLC acquired a new position in shares of iShares Bitcoin Trust during the 4th quarter worth about $386,000. Mascagni Wealth Management Inc. acquired a new position in iShares Bitcoin Trust during the fourth quarter valued at approximately $149,000. Objective Capital Management LLC grew its stake in iShares Bitcoin Trust by 4.3% in the fourth quarter. Objective Capital Management LLC now owns 35,480 shares of the company’s stock valued at $1,882,000 after purchasing an additional 1,468 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of iShares Bitcoin Trust by 58.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 140,574 shares of the company’s stock worth $7,457,000 after purchasing an additional 52,057 shares during the last quarter. Finally, Centaurus Financial Inc. raised its stake in shares of iShares Bitcoin Trust by 480.9% during the 4th quarter. Centaurus Financial Inc. now owns 60,630 shares of the company’s stock worth $3,216,000 after purchasing an additional 50,192 shares in the last quarter.
About iShares Bitcoin Trust
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.
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