iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Down to $35.38

iShares Bitcoin Trust (NASDAQ:IBIT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.38, but opened at $34.10. iShares Bitcoin Trust shares last traded at $33.99, with a volume of 5,791,277 shares trading hands.

iShares Bitcoin Trust Stock Performance

The business’s 50-day moving average price is $34.94 and its 200-day moving average price is $36.17.

Institutional Investors Weigh In On iShares Bitcoin Trust

Hedge funds have recently modified their holdings of the business. Brookstone Capital Management bought a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $7,017,000. Kingsview Wealth Management LLC bought a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $1,403,000. Financial Sense Advisors Inc. bought a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $1,278,000. Axxcess Wealth Management LLC bought a new position in iShares Bitcoin Trust in the 1st quarter worth $965,000. Finally, Traynor Capital Management Inc. purchased a new stake in iShares Bitcoin Trust in the 1st quarter worth $3,666,000.

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.