iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 0.9% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price dropped 0.9% during mid-day trading on Wednesday . The stock traded as low as $52.90 and last traded at $53.05. Approximately 29,997,555 shares traded hands during trading, a decline of 15% from the average daily volume of 35,205,520 shares. The stock had previously closed at $53.55.

iShares Bitcoin Trust Price Performance

The stock has a fifty day moving average price of $51.61 and a 200 day moving average price of $40.90.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Glass Jacobson Investment Advisors llc bought a new stake in shares of iShares Bitcoin Trust during the second quarter valued at about $26,000. Asset Dedication LLC increased its holdings in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares during the period. International Assets Investment Management LLC bought a new stake in iShares Bitcoin Trust during the 2nd quarter worth approximately $31,000. West Financial Advisors LLC purchased a new stake in iShares Bitcoin Trust in the 3rd quarter worth approximately $40,000. Finally, Brown Brothers Harriman & Co. bought a new position in iShares Bitcoin Trust in the 2nd quarter valued at $43,000.

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.