iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 2.4% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price fell 2.4% on Monday . The company traded as low as $50.69 and last traded at $52.53. 23,994,427 shares were traded during mid-day trading, a decline of 43% from the average session volume of 41,735,969 shares. The stock had previously closed at $53.84.

iShares Bitcoin Trust Stock Up 3.3 %

The firm’s 50-day simple moving average is $54.03 and its 200-day simple moving average is $42.03.

Institutional Trading of iShares Bitcoin Trust

Several institutional investors have recently modified their holdings of the company. Glass Jacobson Investment Advisors llc bought a new stake in iShares Bitcoin Trust in the second quarter valued at about $26,000. Asset Dedication LLC lifted its position 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 buying an additional 279 shares during the period. PSI Advisors LLC acquired a new stake in iShares Bitcoin Trust in the 4th quarter valued at $30,000. West Financial Advisors LLC bought a new stake in iShares Bitcoin Trust in the third quarter valued at $40,000. Finally, Brown Brothers Harriman & Co. acquired a new position in iShares Bitcoin Trust during the second quarter worth $43,000.

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.