iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 0.2% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price fell 0.2% during trading on Friday . The company traded as low as $52.39 and last traded at $53.21. 21,187,061 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 40,777,457 shares. The stock had previously closed at $53.34.

iShares Bitcoin Trust Stock Up 1.3 %

The company has a 50 day moving average price of $53.13 and a 200 day moving average price of $41.53.

Hedge Funds Weigh In On iShares Bitcoin Trust

Hedge funds have recently made changes to their positions in the stock. Glass Jacobson Investment Advisors llc purchased a new stake in iShares Bitcoin Trust during the second quarter worth about $26,000. Asset Dedication LLC increased its stake 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 buying an additional 279 shares during the period. West Financial Advisors LLC purchased a new position in iShares Bitcoin Trust in the 3rd quarter valued at approximately $40,000. Brown Brothers Harriman & Co. acquired a new position in shares of iShares Bitcoin Trust in the second quarter worth $43,000. Finally, Hollencrest Capital Management grew its stake in shares of iShares Bitcoin Trust by 256.7% in the second quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock worth $45,000 after acquiring an additional 955 shares in the last quarter.

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.