iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 1.6% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price fell 1.6% during mid-day trading on Wednesday . The company traded as low as $58.93 and last traded at $59.47. 12,946,108 shares traded hands 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 Down 1.7 %

The firm’s 50-day moving average is $55.27 and its two-hundred day moving average is $42.89.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds and other institutional investors have recently modified their holdings of IBIT. AlphaMark Advisors LLC lifted its stake in iShares Bitcoin Trust by 8.9% in the fourth quarter. AlphaMark Advisors LLC now owns 2,455 shares of the company’s stock valued at $130,000 after acquiring an additional 200 shares during the last quarter. City Holding Co. raised its position in shares of iShares Bitcoin Trust by 95.2% in the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after buying an additional 238 shares in the last quarter. Blue Trust Inc. grew its stake in iShares Bitcoin Trust by 5.8% during the fourth quarter. Blue Trust Inc. now owns 4,939 shares of the company’s stock worth $262,000 after buying an additional 270 shares in the last quarter. Asset Dedication LLC raised its position 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 buying an additional 279 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its holdings in shares of iShares Bitcoin Trust by 40.2% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock worth $38,000 after acquiring an additional 304 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.