iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 1.6% – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT) were down 1.6% during trading on Tuesday . The company traded as low as $55.94 and last traded at $56.65. Approximately 15,647,343 shares were traded during trading, a decline of 67% from the average daily volume of 47,777,387 shares. The stock had previously closed at $57.58.

iShares Bitcoin Trust Price Performance

The stock’s 50 day simple moving average is $56.19 and its two-hundred day simple moving average is $44.27.

Institutional Trading of iShares Bitcoin Trust

Institutional investors have recently added to or reduced their stakes in the stock. Vienna Asset Management LLC increased its holdings in shares of iShares Bitcoin Trust by 131.6% in the third quarter. Vienna Asset Management LLC now owns 26,642 shares of the company’s stock worth $963,000 after purchasing an additional 15,137 shares during the period. Garden State Investment Advisory Services LLC purchased a new stake in shares of iShares Bitcoin Trust in the 3rd quarter valued at about $656,000. Andina Capital Management LLC boosted its position in shares of iShares Bitcoin Trust by 131.0% during the 4th quarter. Andina Capital Management LLC now owns 17,152 shares of the company’s stock valued at $910,000 after acquiring an additional 9,728 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of iShares Bitcoin Trust by 32.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock valued at $1,357,000 after acquiring an additional 9,266 shares during the last quarter. Finally, Mutual Advisors LLC grew its holdings in shares of iShares Bitcoin Trust by 65.8% during the fourth quarter. Mutual Advisors LLC now owns 157,060 shares of the company’s stock worth $8,967,000 after purchasing an additional 62,338 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.