iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 2.6% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price traded down 2.6% during mid-day trading on Thursday . The company traded as low as $52.51 and last traded at $53.34. 46,619,577 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 44,964,426 shares. The stock had previously closed at $54.79.

iShares Bitcoin Trust Price Performance

The company has a 50 day simple moving average of $52.86 and a 200 day simple moving average of $41.44.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. PFG Investments LLC bought a new stake in iShares Bitcoin Trust during the second quarter worth $233,000. Choreo LLC acquired a new position in iShares Bitcoin Trust during the second quarter worth approximately $1,571,000. Van Hulzen Asset Management LLC bought a new stake in iShares Bitcoin Trust in the second quarter valued at approximately $342,000. Headlands Technologies LLC lifted its position in shares of iShares Bitcoin Trust by 134.1% in the second quarter. Headlands Technologies LLC now owns 16,326 shares of the company’s stock valued at $557,000 after buying an additional 9,351 shares during the last quarter. Finally, MGO One Seven LLC bought a new position in shares of iShares Bitcoin Trust during the 2nd quarter worth approximately $970,000.

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.