iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 1.2% – Here’s Why

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) fell 1.2% during mid-day trading on Thursday . The company traded as low as $45.76 and last traded at $46.25. 12,653,824 shares changed hands during trading, a decline of 72% from the average session volume of 45,951,723 shares. The stock had previously closed at $46.83.

iShares Bitcoin Trust Stock Performance

The company has a 50 day simple moving average of $50.11 and a 200 day simple moving average of $49.52.

Institutional Trading of iShares Bitcoin Trust

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