iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 1.3% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT) fell 1.3% during trading on Wednesday . The company traded as low as $53.71 and last traded at $54.06. 16,354,732 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 38,500,570 shares. The stock had previously closed at $54.79.

iShares Bitcoin Trust Stock Performance

The stock’s fifty day moving average is $53.13 and its 200-day moving average is $41.53.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of institutional investors have recently added to or reduced their stakes in IBIT. Asset Dedication LLC lifted its holdings in shares of iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in shares of 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 buying an additional 304 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of iShares Bitcoin Trust by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 88,837 shares of the company’s stock worth $4,713,000 after buying an additional 320 shares during the last quarter. Doliver Advisors LP boosted its stake in iShares Bitcoin Trust by 4.9% in the third quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock valued at $273,000 after buying an additional 350 shares in the last quarter. Finally, Summit Global Investments grew its position in iShares Bitcoin Trust by 3.3% in the third quarter. Summit Global Investments now owns 11,214 shares of the company’s stock valued at $405,000 after acquiring 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.