iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 3.4% – Here’s What Happened

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) dropped 3.4% during trading on Monday . The stock traded as low as $52.91 and last traded at $52.96. Approximately 16,769,462 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 35,151,770 shares. The stock had previously closed at $54.81.

iShares Bitcoin Trust Trading Down 3.2 %

The firm’s fifty day simple moving average is $48.75 and its 200-day simple moving average is $39.94.

Institutional Trading of iShares Bitcoin Trust

A number of large investors have recently bought and sold shares of IBIT. Fifth Third Bancorp raised its stake in iShares Bitcoin Trust by 60.8% during the 2nd quarter. Fifth Third Bancorp now owns 5,700 shares of the company’s stock worth $195,000 after buying an additional 2,155 shares during the period. Summit Securities Group LLC bought a new position in iShares Bitcoin Trust in the 2nd quarter valued at about $53,000. Cambridge Investment Research Advisors Inc. increased its holdings in iShares Bitcoin Trust by 90.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 526,997 shares of the company’s stock worth $17,992,000 after purchasing an additional 250,783 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of iShares Bitcoin Trust by 71.5% in the second quarter. Atomi Financial Group Inc. now owns 9,508 shares of the company’s stock valued at $325,000 after purchasing an additional 3,964 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its position in iShares Bitcoin Trust by 68.0% in the 2nd quarter. Eagle Bay Advisors LLC now owns 2,179 shares of the company’s stock valued at $74,000 after buying an additional 882 shares during the last quarter.

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.