iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 1.1% – Time to Sell?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) fell 1.1% during mid-day trading on Monday . The company traded as low as $51.13 and last traded at $51.57. 11,111,910 shares changed hands during trading, a decline of 66% from the average session volume of 32,360,107 shares. The stock had previously closed at $52.13.

iShares Bitcoin Trust Trading Up 1.1 %

The firm has a 50-day simple moving average of $39.17 and a 200-day simple moving average of $37.03.

Institutional Trading of iShares Bitcoin Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in shares of iShares Bitcoin Trust during the first quarter valued at about $30,000. Glass Jacobson Investment Advisors llc bought a new stake in iShares Bitcoin Trust during the 2nd quarter worth approximately $26,000. Asset Dedication LLC lifted its stake in iShares Bitcoin Trust by 52.4% in the 3rd 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. International Assets Investment Management LLC bought a new position in iShares Bitcoin Trust in the 2nd quarter valued at $31,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of iShares Bitcoin Trust during the 1st quarter valued at $42,000.

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.