iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Down – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT) shares gapped down before the market opened on Thursday . The stock had previously closed at $56.23, but opened at $54.42. iShares Bitcoin Trust shares last traded at $54.17, with a volume of 5,990,378 shares trading hands.

iShares Bitcoin Trust Stock Down 2.9 %

The business’s fifty day simple moving average is $49.77 and its 200-day simple moving average is $40.26.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its holdings in iShares Bitcoin Trust by 32.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock valued at $1,357,000 after buying an additional 9,266 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of iShares Bitcoin Trust during the 3rd quarter valued at approximately $656,000. Franklin Resources Inc. purchased a new position in shares of iShares Bitcoin Trust in the third quarter valued at $1,107,000. Tidal Investments LLC increased its position in iShares Bitcoin Trust by 12.4% in the third quarter. Tidal Investments LLC now owns 228,354 shares of the company’s stock worth $8,250,000 after purchasing an additional 25,232 shares during the last quarter. Finally, World Investment Advisors LLC raised its stake in iShares Bitcoin Trust by 31.1% during the third quarter. World Investment Advisors LLC now owns 11,888 shares of the company’s stock valued at $430,000 after purchasing an additional 2,823 shares in 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.