iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 0.6% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price traded down 0.6% during trading on Wednesday . The stock traded as low as $55.60 and last traded at $55.81. 9,568,152 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 47,607,285 shares. The stock had previously closed at $56.13.

iShares Bitcoin Trust Stock Down 1.2 %

The company’s fifty day simple moving average is $56.36 and its 200 day simple moving average is $44.70.

Institutional Trading of iShares Bitcoin Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Union Savings Bank purchased a new stake in shares of iShares Bitcoin Trust during the 4th quarter valued at $25,000. Vision Financial Markets LLC purchased a new stake in shares of iShares Bitcoin Trust during the 4th quarter valued at $25,000. City Holding Co. raised its position in shares of iShares Bitcoin Trust by 95.2% during the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after buying an additional 238 shares in the last quarter. Stephens Consulting LLC raised its position in shares of iShares Bitcoin Trust by 62.8% during the 4th quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock valued at $26,000 after buying an additional 189 shares in the last quarter. Finally, Crewe Advisors LLC raised its position in shares of iShares Bitcoin Trust by 151.0% during the 4th quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock valued at $27,000 after buying an additional 302 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.