iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 4.5% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price fell 4.5% during trading on Monday . The company traded as low as $53.67 and last traded at $53.97. 54,828,438 shares traded hands during mid-day trading, an increase of 64% from the average session volume of 33,503,305 shares. The stock had previously closed at $56.49.

iShares Bitcoin Trust Trading Down 4.4 %

The company’s 50-day moving average price is $40.50 and its two-hundred day moving average price is $37.45.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several institutional investors have recently modified their holdings of the company. Tidal Investments LLC lifted its position in iShares Bitcoin Trust by 12.4% in the 3rd quarter. Tidal Investments LLC now owns 228,354 shares of the company’s stock worth $8,250,000 after buying an additional 25,232 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of iShares Bitcoin Trust by 31.1% in the 3rd quarter. World Investment Advisors LLC now owns 11,888 shares of the company’s stock worth $430,000 after acquiring an additional 2,823 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of iShares Bitcoin Trust by 723.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 88,811 shares of the company’s stock worth $3,209,000 after acquiring an additional 78,022 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of iShares Bitcoin Trust in the 3rd quarter valued at $353,000. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of iShares Bitcoin Trust by 38.5% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,619 shares of the company’s stock valued at $58,000 after purchasing an additional 450 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.