iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Down – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT) shares gapped down prior to trading on Tuesday . The stock had previously closed at $53.41, but opened at $50.66. iShares Bitcoin Trust shares last traded at $49.78, with a volume of 22,035,221 shares traded.

iShares Bitcoin Trust Trading Down 7.9 %

The business’s fifty day simple moving average is $55.94 and its 200-day simple moving average is $46.41.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds have recently made changes to their positions in IBIT. Millennium Management LLC raised its holdings in shares of iShares Bitcoin Trust by 27.0% during the 4th quarter. Millennium Management LLC now owns 29,850,198 shares of the company’s stock valued at $1,583,553,000 after buying an additional 6,352,197 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of iShares Bitcoin Trust during the fourth quarter worth approximately $1,385,364,000. Symmetry Investments LP lifted its holdings in shares of iShares Bitcoin Trust by 3,605.8% in the 4th quarter. Symmetry Investments LP now owns 12,678,808 shares of the company’s stock worth $672,611,000 after acquiring an additional 12,336,673 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of iShares Bitcoin Trust by 344.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 9,667,431 shares of the company’s stock valued at $512,857,000 after purchasing an additional 7,494,123 shares in the last quarter. Finally, Capula Management Ltd grew its holdings in shares of iShares Bitcoin Trust by 8.7% during the 4th quarter. Capula Management Ltd now owns 9,268,886 shares of the company’s stock valued at $491,714,000 after purchasing an additional 743,930 shares during 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.