iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 3.3% – What’s Next?

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

iShares Bitcoin Trust Stock Performance

The company’s 50 day moving average is $52.88 and its 200 day moving average is $48.57.

Institutional Investors Weigh In On iShares Bitcoin Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Great Valley Advisor Group Inc. acquired a new position in shares of iShares Bitcoin Trust during the third quarter worth about $206,000. Cerity Partners LLC grew its stake in shares of iShares Bitcoin Trust by 51.9% during the 3rd quarter. Cerity Partners LLC now owns 188,505 shares of the company’s stock worth $6,811,000 after purchasing an additional 64,396 shares during the period. Brown Brothers Harriman & Co. grew its holdings in iShares Bitcoin Trust by 55.9% in the third quarter. Brown Brothers Harriman & Co. now owns 1,985 shares of the company’s stock valued at $72,000 after purchasing an additional 712 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of iShares Bitcoin Trust by 20.7% in the third quarter. Townsquare Capital LLC now owns 36,627 shares of the company’s stock valued at $1,323,000 after purchasing an additional 6,279 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its position in shares of iShares Bitcoin Trust by 97.9% in the third quarter. CreativeOne Wealth LLC now owns 18,957 shares of the company’s stock valued at $685,000 after purchasing an additional 9,376 shares during 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.