iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 0.6% – Here’s What Happened

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded down 0.6% during trading on Thursday . The stock traded as low as $55.30 and last traded at $56.31. 10,644,144 shares were traded during trading, a decline of 73% from the average session volume of 39,713,363 shares. The stock had previously closed at $56.64.

iShares Bitcoin Trust Stock Performance

The company’s 50-day moving average price is $54.88 and its 200 day moving average price is $42.40.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several institutional investors have recently bought and sold shares of IBIT. IMC Chicago LLC purchased a new position in iShares Bitcoin Trust during the third quarter valued at $323,337,000. D. E. Shaw & Co. Inc. grew its stake in iShares Bitcoin Trust by 1,657.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock valued at $90,014,000 after acquiring an additional 2,486,608 shares in the last quarter. Sculptor Capital LP grew its stake in iShares Bitcoin Trust by 188.1% during the second quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock valued at $115,831,000 after acquiring an additional 2,215,107 shares in the last quarter. Aristeia Capital L.L.C. grew its stake in iShares Bitcoin Trust by 47.2% during the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock valued at $202,806,000 after acquiring an additional 1,903,644 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in iShares Bitcoin Trust during the second quarter valued at $56,965,000.

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.