iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 4.5% – Time to Sell?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) were down 4.5% on Monday . The stock traded as low as $53.67 and last traded at $53.97. Approximately 54,828,438 shares changed hands during trading, an increase of 64% from the average daily volume of 33,503,305 shares. The stock had previously closed at $56.49.

iShares Bitcoin Trust Price Performance

The stock has a 50-day moving average of $41.69 and a 200-day moving average of $37.82.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in IBIT. Bessemer Group Inc. bought a new position in iShares Bitcoin Trust in the first quarter valued at $65,000. Toronto Dominion Bank bought a new stake in iShares Bitcoin Trust in the 1st quarter valued at about $121,000. Lazard Asset Management LLC acquired a new stake in iShares Bitcoin Trust during the first quarter worth approximately $59,000. Creekmur Asset Management LLC acquired a new stake in shares of iShares Bitcoin Trust during the 1st quarter worth $30,000. Finally, Comerica Bank bought a new position in iShares Bitcoin Trust in the 1st quarter valued at about $225,000.

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.