iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 4.3% – Time to Sell?

iShares Bitcoin Trust (NASDAQ:IBIT) shares fell 4.3% during mid-day trading on Tuesday . The company traded as low as $55.20 and last traded at $55.69. 24,585,041 shares were traded during mid-day trading, a decline of 29% from the average session volume of 34,660,066 shares. The stock had previously closed at $58.17.

iShares Bitcoin Trust Stock Down 2.6 %

The company’s 50 day moving average is $52.86 and its 200 day moving average is $41.44.

Institutional Trading of iShares Bitcoin Trust

Institutional investors have recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc purchased a new stake in shares of iShares Bitcoin Trust in the 2nd quarter worth about $26,000. Asset Dedication LLC raised its position in iShares Bitcoin Trust by 52.4% during the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares during the last quarter. West Financial Advisors LLC purchased a new stake in shares of iShares Bitcoin Trust in the third quarter valued at about $40,000. Brown Brothers Harriman & Co. acquired a new stake in shares of iShares Bitcoin Trust in the second quarter valued at approximately $43,000. Finally, Hollencrest Capital Management increased its stake in shares of iShares Bitcoin Trust by 256.7% during the 2nd quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock worth $45,000 after purchasing an additional 955 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.