iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 1.6% – Should You Sell?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded down 1.6% during trading on Wednesday . The company traded as low as $58.93 and last traded at $59.47. 12,946,108 shares changed hands during trading, a decline of 70% from the average session volume of 43,761,191 shares. The stock had previously closed at $60.42.

iShares Bitcoin Trust Stock Performance

The business’s 50 day simple moving average is $55.77 and its 200 day simple moving average is $43.30.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds have recently bought and sold shares of the company. Union Savings Bank purchased a new stake in shares of iShares Bitcoin Trust in the fourth quarter worth approximately $25,000. City Holding Co. lifted its position in shares of iShares Bitcoin Trust by 95.2% in the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock worth $26,000 after purchasing an additional 238 shares in the last quarter. Asset Dedication LLC lifted its position in shares of iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after purchasing an additional 279 shares in the last quarter. PSI Advisors LLC purchased a new stake in shares of iShares Bitcoin Trust in the fourth quarter worth approximately $30,000. Finally, Glass Jacobson Investment Advisors llc lifted its position in shares of iShares Bitcoin Trust by 40.2% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock worth $38,000 after purchasing an additional 304 shares in 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.