iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 0.6% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price dropped 0.6% during trading on Wednesday . The company traded as low as $55.60 and last traded at $55.81. Approximately 9,568,152 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 47,607,285 shares. The stock had previously closed at $56.13.

iShares Bitcoin Trust Price Performance

The business’s fifty day simple moving average is $56.36 and its 200-day simple moving average is $44.70.

Institutional Investors Weigh In On iShares Bitcoin Trust

Large investors have recently added to or reduced their stakes in the company. Union Savings Bank bought a new stake in iShares Bitcoin Trust in the 4th quarter worth $25,000. Vision Financial Markets LLC bought a new stake in iShares Bitcoin Trust in the 4th quarter worth $25,000. City Holding Co. grew its holdings in iShares Bitcoin Trust by 95.2% in the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock worth $26,000 after acquiring an additional 238 shares during the last quarter. Stephens Consulting LLC grew its holdings in iShares Bitcoin Trust by 62.8% in the 4th quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. Finally, Crewe Advisors LLC boosted its stake in shares of iShares Bitcoin Trust by 151.0% during the 4th quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock valued at $27,000 after purchasing an additional 302 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.