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

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price fell 1.6% during trading on Wednesday . The company traded as low as $58.93 and last traded at $59.47. 12,946,108 shares were traded during mid-day 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 Up 1.5 %

The business has a fifty day moving average of $55.77 and a 200 day moving average of $43.30.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. IMC Chicago LLC acquired a new stake in shares of iShares Bitcoin Trust in the third quarter worth $323,337,000. Sculptor Capital LP lifted its position in iShares Bitcoin Trust by 188.1% in the second quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock worth $115,831,000 after purchasing an additional 2,215,107 shares during the period. D. E. Shaw & Co. Inc. lifted its position in iShares Bitcoin Trust by 1,657.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock worth $90,014,000 after purchasing an additional 2,486,608 shares during the period. Point72 Asset Management L.P. bought a new position in iShares Bitcoin Trust in the second quarter worth $56,965,000. Finally, Murchinson Ltd. lifted its position in iShares Bitcoin Trust by 87.1% in the second quarter. Murchinson Ltd. now owns 1,642,535 shares of the company’s stock worth $56,076,000 after purchasing an additional 764,575 shares during the period.

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.