iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 4.3% – Here’s Why

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) were down 4.3% on Tuesday . The stock traded as low as $55.20 and last traded at $55.69. Approximately 24,585,041 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 34,660,066 shares. The stock had previously closed at $58.17.

iShares Bitcoin Trust Stock Down 5.4 %

The stock has a fifty day moving average price of $52.34 and a 200-day moving average price of $41.23.

Institutional Trading of iShares Bitcoin Trust

Several hedge funds and other institutional investors have recently made changes to their positions in IBIT. Diversified Trust Co purchased a new stake in iShares Bitcoin Trust in the 4th quarter valued at approximately $1,336,000. APEIRON CAPITAL Ltd purchased a new position in shares of iShares Bitcoin Trust during the 4th quarter worth approximately $8,440,000. Doliver Advisors LP lifted its holdings in shares of iShares Bitcoin Trust by 26.8% in the 4th quarter. Doliver Advisors LP now owns 9,581 shares of the company’s stock valued at $508,000 after buying an additional 2,023 shares during the period. Silverleafe Capital Partners LLC purchased a new stake in shares of iShares Bitcoin Trust in the fourth quarter valued at approximately $734,000. Finally, CWA Asset Management Group LLC lifted its holdings in iShares Bitcoin Trust by 17.1% in the fourth quarter. CWA Asset Management Group LLC now owns 106,184 shares of the company’s stock valued at $5,633,000 after acquiring an additional 15,503 shares during the period.

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.