iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 2.4% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price traded down 2.4% on Monday . The stock traded as low as $50.69 and last traded at $52.53. 23,994,427 shares traded hands during trading, a decline of 43% from the average session volume of 41,735,969 shares. The stock had previously closed at $53.84.

iShares Bitcoin Trust Stock Performance

The company’s fifty day moving average price is $54.03 and its two-hundred day moving average price is $42.03.

Hedge Funds Weigh In On iShares Bitcoin Trust

Institutional investors have recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc acquired a new stake in shares of iShares Bitcoin Trust in the second quarter valued at $26,000. Asset Dedication LLC grew its holdings 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 acquiring an additional 279 shares during the last quarter. PSI Advisors LLC acquired a new stake in iShares Bitcoin Trust in the 4th quarter valued at about $30,000. West Financial Advisors LLC acquired a new stake in iShares Bitcoin Trust in the 3rd quarter valued at about $40,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of iShares Bitcoin Trust during the second quarter worth approximately $43,000.

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.