iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 2.8% – Here’s What Happened

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) were down 2.8% on Thursday . The stock traded as low as $54.06 and last traded at $54.65. Approximately 10,701,888 shares were traded during trading, a decline of 70% from the average daily volume of 35,138,418 shares. The stock had previously closed at $56.23.

iShares Bitcoin Trust Trading Down 2.9 %

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc purchased a new position in shares of iShares Bitcoin Trust during the 2nd quarter valued at $26,000. Asset Dedication LLC increased its position in iShares Bitcoin Trust by 52.4% during the third 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. International Assets Investment Management LLC bought a new stake in shares of iShares Bitcoin Trust in the second quarter valued at about $31,000. Hantz Financial Services Inc. bought a new stake in shares of iShares Bitcoin Trust during the second quarter valued at approximately $36,000. Finally, West Financial Advisors LLC bought a new stake in iShares Bitcoin Trust in the 3rd quarter valued at $40,000.

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.