iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 1.1% – Time to Sell?

iShares Bitcoin Trust (NASDAQ:IBIT) were down 1.1% during mid-day trading on Friday . The stock traded as low as $53.37 and last traded at $53.70. Approximately 13,156,787 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 35,105,746 shares. The stock had previously closed at $54.30.

iShares Bitcoin Trust Stock Performance

The stock has a 50-day moving average price of $50.39 and a 200 day moving average price of $40.47.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc purchased a new position in iShares Bitcoin Trust in the 2nd quarter valued at $26,000. Asset Dedication LLC boosted its holdings in shares of iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after acquiring an additional 279 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of iShares Bitcoin Trust during the second quarter worth about $31,000. Hantz Financial Services Inc. purchased a new position in iShares Bitcoin Trust during the second quarter worth about $36,000. Finally, West Financial Advisors LLC acquired a new stake in iShares Bitcoin Trust in the third quarter valued at about $40,000.

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.