iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 6.2% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price fell 6.2% on Monday . The company traded as low as $42.98 and last traded at $44.74. 46,189,715 shares were traded during mid-day trading, an increase of 4% from the average session volume of 44,561,133 shares. The stock had previously closed at $47.71.

iShares Bitcoin Trust Stock Performance

The company’s fifty day moving average is $51.18 and its 200-day moving average is $49.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Andina Capital Management LLC lifted its position in shares of iShares Bitcoin Trust by 131.0% during the 4th quarter. Andina Capital Management LLC now owns 17,152 shares of the company’s stock worth $910,000 after purchasing an additional 9,728 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in iShares Bitcoin Trust by 32.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock worth $1,357,000 after buying an additional 9,266 shares during the period. Mutual Advisors LLC lifted its holdings in shares of iShares Bitcoin Trust by 65.8% during the fourth quarter. Mutual Advisors LLC now owns 157,060 shares of the company’s stock worth $8,967,000 after buying an additional 62,338 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new stake in shares of iShares Bitcoin Trust in the third quarter valued at approximately $656,000. Finally, Stordahl Capital Management Inc. acquired a new stake in shares of iShares Bitcoin Trust in the fourth quarter worth $253,000.

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.