iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Down to $35.22

iShares Bitcoin Trust (NASDAQ:IBIT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.22, but opened at $34.35. iShares Bitcoin Trust shares last traded at $34.40, with a volume of 2,941,781 shares traded.

iShares Bitcoin Trust Trading Down 2.2 %

The business has a fifty day simple moving average of $37.00.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBIT. Signal Advisors Wealth LLC bought a new position in iShares Bitcoin Trust during the first quarter worth $832,000. LexAurum Advisors LLC bought a new stake in shares of iShares Bitcoin Trust in the first quarter valued at about $485,000. Salem Investment Counselors Inc. bought a new stake in shares of iShares Bitcoin Trust in the first quarter valued at about $41,000. Catalyst Private Wealth LLC bought a new stake in shares of iShares Bitcoin Trust in the first quarter valued at about $212,000. Finally, Traynor Capital Management Inc. bought a new stake in shares of iShares Bitcoin Trust in the first quarter valued at about $3,666,000.

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.