iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 1.3% – Time to Sell?

iShares Bitcoin Trust (NASDAQ:IBIT) were down 1.3% during mid-day trading on Tuesday . The stock traded as low as $53.75 and last traded at $54.48. Approximately 52,619,439 shares traded hands during mid-day trading, an increase of 55% from the average daily volume of 33,928,965 shares. The stock had previously closed at $55.21.

iShares Bitcoin Trust Stock Up 3.6 %

The stock’s 50 day moving average price is $43.59 and its two-hundred day moving average price is $38.46.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc acquired a new stake in iShares Bitcoin Trust in the second quarter valued at approximately $26,000. Asset Dedication LLC boosted its holdings in iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after buying an additional 279 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in iShares Bitcoin Trust in the 2nd quarter worth about $31,000. Hantz Financial Services Inc. acquired a new stake in iShares Bitcoin Trust in the 2nd quarter worth about $36,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in iShares Bitcoin Trust in the 2nd quarter worth about $40,000.

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.