iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 1.1% – What’s Next?

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

iShares Bitcoin Trust Price Performance

The company’s fifty day simple moving average is $38.39 and its 200-day simple moving average is $36.78.

Institutional Investors Weigh In On iShares Bitcoin Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc bought a new stake in iShares Bitcoin Trust in the 2nd quarter valued at $26,000. Asset Dedication LLC boosted its stake in shares of iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of iShares Bitcoin Trust in the 1st quarter valued at $30,000. International Assets Investment Management LLC acquired a new stake in shares of iShares Bitcoin Trust in the 2nd quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of iShares Bitcoin Trust in the 2nd quarter valued at $36,000.

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.