iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 2.2% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price traded down 2.2% during trading on Wednesday . The stock traded as low as $58.96 and last traded at $59.37. 14,549,465 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 34,720,191 shares. The stock had previously closed at $60.73.

iShares Bitcoin Trust Stock Down 2.7 %

The company has a fifty day simple moving average of $47.51 and a 200-day simple moving average of $39.62.

Hedge Funds Weigh In On iShares Bitcoin Trust

Large investors have recently modified their holdings of the business. Summit Global Investments increased its holdings in iShares Bitcoin Trust by 33.1% in the 2nd quarter. Summit Global Investments now owns 10,859 shares of the company’s stock valued at $371,000 after purchasing an additional 2,703 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of iShares Bitcoin Trust by 60.8% in the 2nd quarter. Fifth Third Bancorp now owns 5,700 shares of the company’s stock valued at $195,000 after buying an additional 2,155 shares during the period. Longitude Cayman Ltd. acquired a new position in iShares Bitcoin Trust in the 2nd quarter valued at about $3,551,000. Catalyst Private Wealth LLC lifted its position in shares of iShares Bitcoin Trust by 117.3% during the second quarter. Catalyst Private Wealth LLC now owns 11,394 shares of the company’s stock worth $389,000 after purchasing an additional 6,150 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of iShares Bitcoin Trust by 65.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,310 shares of the company’s stock valued at $523,000 after purchasing an additional 6,056 shares during the period.

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.