iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Down to $37.98

iShares Bitcoin Trust (NASDAQ:IBIT) gapped down prior to trading on Tuesday . The stock had previously closed at $37.98, but opened at $36.95. iShares Bitcoin Trust shares last traded at $36.93, with a volume of 5,789,482 shares trading hands.

iShares Bitcoin Trust Price Performance

The stock’s 50-day simple moving average is $37.40.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC purchased a new stake in iShares Bitcoin Trust in the 1st quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $30,000. Sound Income Strategies LLC purchased a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $30,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $40,000. Finally, Bfsg LLC purchased a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $41,000.

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.