iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 1.3% – Here’s Why

Posted by Carolyn Dwyer on Jan 8th, 2025

iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report) shares dropped 1.3% during mid-day trading on Wednesday . The company traded as low as $53.71 and last traded at $54.06. Approximately 16,354,732 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 38,500,570 shares. The stock had previously closed at $54.79.

iShares Bitcoin Trust Trading Down 2.1 %

The firm has a fifty day moving average price of $52.61 and a 200 day moving average price of $41.36.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of institutional investors have recently bought and sold shares of the company. Vienna Asset Management LLC increased its holdings in shares of iShares Bitcoin Trust by 131.6% during the 3rd quarter. Vienna Asset Management LLC now owns 26,642 shares of the company’s stock worth $963,000 after buying an additional 15,137 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in iShares Bitcoin Trust in the third quarter valued at $656,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of iShares Bitcoin Trust by 32.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock valued at $1,357,000 after purchasing an additional 9,266 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of iShares Bitcoin Trust in the 3rd quarter valued at $11,507,000. Finally, Marathon Trading Investment Management LLC increased its position in shares of iShares Bitcoin Trust by 238.4% during the 3rd quarter. Marathon Trading Investment Management LLC now owns 77,600 shares of the company’s stock worth $2,804,000 after purchasing an additional 54,671 shares during the last quarter.

About iShares Bitcoin Trust

(Get Free Report)

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.