iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 0.2% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price fell 0.2% on Friday . The company traded as low as $52.39 and last traded at $53.21. 21,187,061 shares were traded during trading, a decline of 48% from the average session volume of 40,777,457 shares. The stock had previously closed at $53.34.

iShares Bitcoin Trust Stock Up 0.9 %

The stock’s fifty day moving average price is $53.42 and its 200-day moving average price is $41.71.

Institutional Investors Weigh In On iShares Bitcoin Trust

Institutional investors have recently modified their holdings of the company. Glass Jacobson Investment Advisors llc acquired a new stake in iShares Bitcoin Trust in the 2nd quarter valued at about $26,000. Asset Dedication LLC grew its position in shares of iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after purchasing an additional 279 shares during the last quarter. West Financial Advisors LLC purchased a new position in shares of iShares Bitcoin Trust during the 3rd quarter worth approximately $40,000. Brown Brothers Harriman & Co. acquired a new position in shares of iShares Bitcoin Trust during the 2nd quarter worth approximately $43,000. Finally, Hollencrest Capital Management lifted its stake in iShares Bitcoin Trust by 256.7% in the 2nd quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock valued at $45,000 after buying an additional 955 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.