Shares of iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report) dropped 0.2% during mid-day trading on Friday . The company traded as low as $52.39 and last traded at $53.21. Approximately 21,187,061 shares traded hands during trading, a decline of 48% from the average daily volume of 40,777,457 shares. The stock had previously closed at $53.34.
iShares Bitcoin Trust Stock Performance
The firm’s 50 day simple moving average is $53.13 and its 200 day simple moving average is $41.53.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CCM Investment Advisers LLC increased its position in shares of iShares Bitcoin Trust by 79.3% during the fourth quarter. CCM Investment Advisers LLC now owns 13,885 shares of the company’s stock worth $744,000 after purchasing an additional 6,140 shares in the last quarter. Ridgewood Investments LLC grew its holdings in shares of iShares Bitcoin Trust by 76.7% during the fourth quarter. Ridgewood Investments LLC now owns 6,980 shares of the company’s stock worth $370,000 after buying an additional 3,030 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of iShares Bitcoin Trust by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 88,837 shares of the company’s stock valued at $4,713,000 after buying an additional 320 shares during the last quarter. ORG Partners LLC lifted its stake in shares of iShares Bitcoin Trust by 346.9% in the fourth quarter. ORG Partners LLC now owns 10,208 shares of the company’s stock worth $542,000 after buying an additional 7,924 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in iShares Bitcoin Trust during the fourth quarter worth about $1,336,000.
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.
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