iShares Bitcoin Trust ETF (NASDAQ:IBIT) Trading Down 3.7% – What’s Next?

iShares Bitcoin Trust ETF (NASDAQ:IBIT)’s stock price traded down 3.7% during trading on Monday . The stock traded as low as $62.76 and last traded at $63.79. 24,314,021 shares were traded during trading, a decline of 46% from the average session volume of 45,428,457 shares. The stock had previously closed at $66.25.

iShares Bitcoin Trust ETF Stock Performance

The firm’s 50 day moving average is $64.42 and its 200 day moving average is $57.05.

Institutional Investors Weigh In On iShares Bitcoin Trust ETF

Several hedge funds have recently bought and sold shares of IBIT. American Capital Advisory LLC lifted its stake in shares of iShares Bitcoin Trust ETF by 144.7% in the first quarter. American Capital Advisory LLC now owns 553 shares of the company’s stock worth $26,000 after buying an additional 327 shares in the last quarter. Signature Resources Capital Management LLC raised its stake in shares of iShares Bitcoin Trust ETF by 81.6% in the second quarter. Signature Resources Capital Management LLC now owns 445 shares of the company’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Mather Group LLC. raised its stake in shares of iShares Bitcoin Trust ETF by 164.2% in the first quarter. Mather Group LLC. now owns 605 shares of the company’s stock worth $28,000 after purchasing an additional 376 shares during the last quarter. Berbice Capital Management LLC raised its stake in shares of iShares Bitcoin Trust ETF by 100.0% in the first quarter. Berbice Capital Management LLC now owns 600 shares of the company’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of iShares Bitcoin Trust ETF in the first quarter worth $30,000.

iShares Bitcoin Trust ETF 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.