iShares Bitcoin Trust (NASDAQ:IBIT) Sees Large Drop in Short Interest

iShares Bitcoin Trust (NASDAQ:IBIT) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 3,260,000 shares, a drop of 68.5% from the November 30th total of 10,350,000 shares. Based on an average daily trading volume, of 48,069,400 shares, the short-interest ratio is currently 0.1 days.

iShares Bitcoin Trust Stock Performance

IBIT traded down $1.93 on Thursday, reaching $54.30. The company’s stock had a trading volume of 26,454,031 shares, compared to its average volume of 35,205,516. iShares Bitcoin Trust has a fifty-two week low of $22.02 and a fifty-two week high of $61.75. The stock has a 50 day moving average of $49.77 and a two-hundred day moving average of $40.26.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC boosted its stake in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after purchasing an additional 279 shares during the period. Glass Jacobson Investment Advisors llc increased its stake in iShares Bitcoin Trust by 40.2% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock valued at $38,000 after buying an additional 304 shares during the period. Bfsg LLC raised its position in iShares Bitcoin Trust by 34.7% during the 2nd quarter. Bfsg LLC now owns 1,360 shares of the company’s stock worth $46,000 after buying an additional 350 shares during the last quarter. Doliver Advisors LP boosted its holdings in shares of iShares Bitcoin Trust by 4.9% in the third quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock valued at $273,000 after acquiring an additional 350 shares in the last quarter. Finally, Summit Global Investments raised its holdings in iShares Bitcoin Trust by 3.3% during the third quarter. Summit Global Investments now owns 11,214 shares of the company’s stock worth $405,000 after purchasing an additional 355 shares in the last quarter.

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.