iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 6.3% – Time to Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price traded down 6.3% during mid-day trading on Thursday . The company traded as low as $46.15 and last traded at $46.29. 20,514,122 shares were traded during mid-day trading, a decline of 54% from the average session volume of 44,117,188 shares. The stock had previously closed at $49.41.

iShares Bitcoin Trust Price Performance

The stock’s fifty day moving average price is $51.94 and its two-hundred day moving average price is $49.10.

Institutional Trading of iShares Bitcoin Trust

A number of institutional investors have recently bought and sold shares of the business. Union Savings Bank purchased a new stake in iShares Bitcoin Trust during the fourth quarter worth approximately $25,000. Vision Financial Markets LLC acquired a new position in shares of iShares Bitcoin Trust in the 4th quarter valued at $25,000. City Holding Co. grew its position in shares of iShares Bitcoin Trust by 95.2% in the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after buying an additional 238 shares during the last quarter. Stephens Consulting LLC raised its stake in iShares Bitcoin Trust by 62.8% during the 4th quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after acquiring an additional 189 shares in the last quarter. Finally, Crewe Advisors LLC lifted its position in iShares Bitcoin Trust by 151.0% in the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock valued at $27,000 after acquiring an additional 302 shares during the last quarter.

About iShares Bitcoin Trust

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.