iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 1.2% – Should You Sell?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) dropped 1.2% during mid-day trading on Thursday . The stock traded as low as $45.76 and last traded at $46.25. Approximately 12,653,824 shares changed hands during trading, a decline of 72% from the average daily volume of 45,951,723 shares. The stock had previously closed at $46.83.

iShares Bitcoin Trust Price Performance

The stock has a 50-day simple moving average of $50.11 and a 200-day simple moving average of $49.52.

Institutional Trading of iShares Bitcoin Trust

Several institutional investors have recently added to or reduced their stakes in IBIT. Benin Management CORP increased its position in shares of iShares Bitcoin Trust by 4.6% in the 1st quarter. Benin Management CORP now owns 6,170 shares of the company’s stock worth $289,000 after purchasing an additional 270 shares during the last quarter. Watershed Private Wealth LLC increased its holdings in iShares Bitcoin Trust by 17.9% in the first quarter. Watershed Private Wealth LLC now owns 16,885 shares of the company’s stock valued at $790,000 after buying an additional 2,565 shares during the last quarter. Accel Wealth Management raised its stake in iShares Bitcoin Trust by 15.7% during the first quarter. Accel Wealth Management now owns 15,281 shares of the company’s stock valued at $715,000 after buying an additional 2,072 shares in the last quarter. Heritage Family Offices LLP lifted its holdings in iShares Bitcoin Trust by 20.1% during the 1st quarter. Heritage Family Offices LLP now owns 18,413 shares of the company’s stock worth $862,000 after buying an additional 3,078 shares during the last quarter. Finally, Smith Anglin Financial LLC lifted its holdings in iShares Bitcoin Trust by 29.7% during the 1st quarter. Smith Anglin Financial LLC now owns 16,269 shares of the company’s stock worth $762,000 after buying an additional 3,724 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.