iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 2.6% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price fell 2.6% during mid-day trading on Thursday . The stock traded as low as $52.51 and last traded at $53.34. 46,619,577 shares traded hands during trading, an increase of 4% from the average session volume of 44,964,426 shares. The stock had previously closed at $54.79.

iShares Bitcoin Trust Stock Performance

The company has a 50-day simple moving average of $53.42 and a 200-day simple moving average of $41.67.

Institutional Trading of iShares Bitcoin Trust

A number of large investors have recently modified their holdings of the company. Glass Jacobson Investment Advisors llc purchased a new stake in iShares Bitcoin Trust during the second quarter worth $26,000. Asset Dedication LLC lifted its holdings in iShares Bitcoin Trust by 52.4% during the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after buying an additional 279 shares during the period. West Financial Advisors LLC acquired a new position in shares of iShares Bitcoin Trust during the third quarter worth $40,000. Brown Brothers Harriman & Co. acquired a new position in shares of iShares Bitcoin Trust during the second quarter worth $43,000. Finally, Hollencrest Capital Management increased its position in shares of iShares Bitcoin Trust by 256.7% during the second quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock worth $45,000 after purchasing an additional 955 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.