iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 3.3% – Here’s Why

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) dropped 3.3% during mid-day trading on Friday . The stock traded as low as $47.75 and last traded at $47.81. Approximately 14,393,533 shares traded hands during trading, a decline of 68% from the average daily volume of 44,802,949 shares. The stock had previously closed at $49.44.

iShares Bitcoin Trust Price Performance

The stock has a 50-day moving average price of $52.88 and a 200 day moving average price of $48.57.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Stephens Consulting LLC grew its stake 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 during the period. AlphaMark Advisors LLC increased its stake in iShares Bitcoin Trust by 8.9% during the fourth quarter. AlphaMark Advisors LLC now owns 2,455 shares of the company’s stock worth $130,000 after acquiring an additional 200 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of iShares Bitcoin Trust by 52.9% in the 4th quarter. Pathway Financial Advisers LLC now owns 665 shares of the company’s stock valued at $35,000 after purchasing an additional 230 shares in the last quarter. SouthState Corp grew its holdings in shares of iShares Bitcoin Trust by 5.5% during the 4th quarter. SouthState Corp now owns 4,411 shares of the company’s stock worth $234,000 after purchasing an additional 230 shares during the period. Finally, Mosley Wealth Management increased its position in iShares Bitcoin Trust by 2.5% during the 4th quarter. Mosley Wealth Management now owns 9,341 shares of the company’s stock worth $496,000 after purchasing an additional 231 shares in the last quarter.

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.