iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Down – Time to Sell?

iShares Bitcoin Trust (NASDAQ:IBIT) gapped down before the market opened on Thursday . The stock had previously closed at $56.23, but opened at $54.42. iShares Bitcoin Trust shares last traded at $54.17, with a volume of 5,990,378 shares traded.

iShares Bitcoin Trust Stock Performance

The business has a 50-day simple moving average of $49.77 and a 200-day simple moving average of $40.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vienna Asset Management LLC lifted its stake in iShares Bitcoin Trust by 131.6% in the third quarter. Vienna Asset Management LLC now owns 26,642 shares of the company’s stock worth $963,000 after purchasing an additional 15,137 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new stake in iShares Bitcoin Trust during the 3rd quarter valued at about $656,000. B. Riley Wealth Advisors Inc. grew its stake in iShares Bitcoin Trust by 32.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock worth $1,357,000 after acquiring an additional 9,266 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in iShares Bitcoin Trust during the 3rd quarter valued at $11,507,000. Finally, Marathon Trading Investment Management LLC lifted its holdings in shares of iShares Bitcoin Trust by 238.4% in the 3rd quarter. Marathon Trading Investment Management LLC now owns 77,600 shares of the company’s stock worth $2,804,000 after buying an additional 54,671 shares during the period.

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.