iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 1.7% – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price dropped 1.7% during trading on Wednesday . The stock traded as low as $49.13 and last traded at $49.31. Approximately 8,488,603 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 45,183,379 shares. The stock had previously closed at $50.14.

iShares Bitcoin Trust Stock Down 3.8 %

The company’s fifty day moving average price is $52.88 and its two-hundred day moving average price is $48.57.

Hedge Funds Weigh In On iShares Bitcoin Trust

Institutional investors have recently bought and sold shares of the business. Union Savings Bank bought a new position in shares of iShares Bitcoin Trust in the fourth quarter valued at about $25,000. Vision Financial Markets LLC acquired a new position in shares of iShares Bitcoin Trust during the fourth quarter worth approximately $25,000. City Holding Co. lifted its position in shares of 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 purchasing an additional 238 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of iShares Bitcoin Trust by 62.8% during the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Finally, Crewe Advisors LLC increased its holdings in shares of iShares Bitcoin Trust by 151.0% in the fourth 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.

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.