iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 2% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT) were down 2% on Monday . The company traded as low as $53.69 and last traded at $56.56. Approximately 33,431,794 shares were traded during trading, a decline of 29% from the average daily volume of 47,144,141 shares. The stock had previously closed at $57.71.

iShares Bitcoin Trust Stock Down 0.2 %

The firm’s fifty day moving average is $56.19 and its 200-day moving average is $44.27.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several hedge funds and other institutional investors have recently modified their holdings of IBIT. Stephens Consulting LLC grew its holdings in iShares Bitcoin Trust by 62.8% during the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after buying an additional 189 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in iShares Bitcoin Trust by 8.9% during the fourth quarter. AlphaMark Advisors LLC now owns 2,455 shares of the company’s stock worth $130,000 after buying an additional 200 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in iShares Bitcoin Trust by 52.9% during the fourth quarter. Pathway Financial Advisers LLC now owns 665 shares of the company’s stock worth $35,000 after buying an additional 230 shares in the last quarter. City Holding Co. grew its holdings in iShares Bitcoin Trust by 95.2% during the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock worth $26,000 after buying an additional 238 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in iShares Bitcoin Trust by 5.8% during the fourth quarter. Blue Trust Inc. now owns 4,939 shares of the company’s stock worth $262,000 after buying an additional 270 shares in the last quarter.

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.