iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 0.8% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT) shares traded down 0.8% during mid-day trading on Tuesday . The company traded as low as $58.41 and last traded at $59.12. 22,396,824 shares traded hands during trading, a decline of 48% from the average session volume of 42,730,004 shares. The stock had previously closed at $59.62.

iShares Bitcoin Trust Stock Up 2.3 %

The stock has a 50 day moving average of $55.08 and a 200 day moving average of $42.69.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of institutional investors have recently modified their holdings of IBIT. Flagship Harbor Advisors LLC bought a new stake in iShares Bitcoin Trust in the fourth quarter worth approximately $381,000. Cedar Mountain Advisors LLC grew its position in shares of iShares Bitcoin Trust by 72.3% during the 4th quarter. Cedar Mountain Advisors LLC now owns 2,347 shares of the company’s stock worth $125,000 after buying an additional 985 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of iShares Bitcoin Trust in the 4th quarter valued at $779,000. Dynamic Advisor Solutions LLC increased its stake in shares of iShares Bitcoin Trust by 72.8% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 11,796 shares of the company’s stock valued at $626,000 after acquiring an additional 4,968 shares in the last quarter. Finally, Aspiring Ventures LLC acquired a new position in shares of iShares Bitcoin Trust during the 4th quarter valued at $256,000.

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.