iShares Bitcoin Trust ETF (NASDAQ:IBIT) Sets New 1-Year Low – Here’s What Happened

iShares Bitcoin Trust ETF (NASDAQ:IBIT)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $33.41 and last traded at $33.71, with a volume of 57738499 shares changing hands. The stock had previously closed at $35.31.

iShares Bitcoin Trust ETF Price Performance

The stock has a 50-day moving average of $41.00 and a two-hundred day moving average of $43.21.

Institutional Trading of iShares Bitcoin Trust ETF

Several institutional investors have recently added to or reduced their stakes in IBIT. Chapman Financial Group LLC bought a new position in iShares Bitcoin Trust ETF during the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC boosted its stake in shares of iShares Bitcoin Trust ETF by 210.3% during the third quarter. Anchor Investment Management LLC now owns 450 shares of the company’s stock valued at $29,000 after purchasing an additional 305 shares during the period. Financial Life Planners bought a new position in shares of iShares Bitcoin Trust ETF in the third quarter worth approximately $31,000. Semmax Financial Advisors Inc. grew its holdings in shares of iShares Bitcoin Trust ETF by 135.9% in the second quarter. Semmax Financial Advisors Inc. now owns 493 shares of the company’s stock worth $33,000 after purchasing an additional 284 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. increased its stake in shares of iShares Bitcoin Trust ETF by 12,500.0% in the fourth quarter. Marshall & Sterling Wealth Advisors Inc. now owns 504 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period.

About iShares Bitcoin Trust ETF

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.