iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 6.3% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price dropped 6.3% during mid-day trading on Thursday . The company traded as low as $46.15 and last traded at $46.29. Approximately 20,514,122 shares traded hands during trading, a decline of 54% from the average daily volume of 44,117,188 shares. The stock had previously closed at $49.41.

iShares Bitcoin Trust Stock Performance

The business has a 50 day moving average of $51.94 and a 200-day moving average of $49.10.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of institutional investors have recently modified their holdings of the business. First Hawaiian Bank increased its stake in iShares Bitcoin Trust by 6.8% in the first quarter. First Hawaiian Bank now owns 14,452 shares of the company’s stock valued at $676,000 after purchasing an additional 925 shares during the period. jvl associates llc purchased a new stake in iShares Bitcoin Trust during the 1st quarter valued at approximately $487,000. Kera Capital Partners Inc. lifted its position in iShares Bitcoin Trust by 34.6% during the 1st quarter. Kera Capital Partners Inc. now owns 5,692 shares of the company’s stock worth $266,000 after acquiring an additional 1,464 shares during the period. Global Wealth Strategies & Associates lifted its position in iShares Bitcoin Trust by 17.3% during the 1st quarter. Global Wealth Strategies & Associates now owns 2,537 shares of the company’s stock worth $119,000 after acquiring an additional 375 shares during the period. Finally, Modus Advisors LLC grew its stake in shares of iShares Bitcoin Trust by 24.5% in the 1st quarter. Modus Advisors LLC now owns 13,697 shares of the company’s stock valued at $641,000 after purchasing an additional 2,697 shares during 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.