iShares Bitcoin Trust (NASDAQ:IBIT) Short Interest Down 62.4% in September

iShares Bitcoin Trust (NASDAQ:IBIT) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,750,000 shares, a drop of 62.4% from the August 31st total of 4,650,000 shares. Based on an average daily volume of 26,445,400 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several large investors have recently made changes to their positions in IBIT. FinTrust Capital Advisors LLC bought a new position in iShares Bitcoin Trust during the first quarter worth $26,000. Glass Jacobson Investment Advisors llc bought a new position in shares of iShares Bitcoin Trust during the 2nd quarter worth about $26,000. Sound Income Strategies LLC acquired a new position in shares of iShares Bitcoin Trust during the first quarter valued at about $30,000. Creekmur Asset Management LLC bought a new stake in shares of iShares Bitcoin Trust in the first quarter valued at about $30,000. Finally, International Assets Investment Management LLC acquired a new stake in iShares Bitcoin Trust during the second quarter worth about $31,000.

iShares Bitcoin Trust Price Performance

Shares of NASDAQ IBIT traded down $0.67 during trading hours on Wednesday, hitting $35.97. 13,468,775 shares of the company’s stock were exchanged, compared to its average volume of 30,320,953. iShares Bitcoin Trust has a 1-year low of $22.02 and a 1-year high of $41.99. The company’s 50-day moving average price is $34.68 and its 200-day moving average price is $36.35.

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.