iShares Bitcoin Trust (NASDAQ:IBIT - Get Free Report) shares fell 3.3% during mid-day trading on Friday . The stock traded as low as $47.75 and last traded at $47.81. 14,393,533 shares were traded during trading, a decline of 68% from the average session volume of 44,802,949 shares. The stock had previously closed at $49.44.
iShares Bitcoin Trust Trading Down 1.6 %
The firm has a 50-day moving average of $52.64 and a 200 day moving average of $48.90.
Hedge Funds Weigh In On iShares Bitcoin Trust
Hedge funds and other institutional investors have recently made changes to their positions in the company. Brevan Howard Capital Management LP bought a new position in shares of iShares Bitcoin Trust in the 4th quarter valued at about $1,385,364,000. Symmetry Investments LP grew its holdings in iShares Bitcoin Trust by 3,605.8% during the fourth quarter. Symmetry Investments LP now owns 12,678,808 shares of the company's stock worth $672,611,000 after purchasing an additional 12,336,673 shares during the period. Mubadala Investment Co PJSC acquired a new position in iShares Bitcoin Trust during the fourth quarter worth approximately $436,895,000. D. E. Shaw & Co. Inc. raised its stake in iShares Bitcoin Trust by 344.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 9,667,431 shares of the company's stock valued at $512,857,000 after buying an additional 7,494,123 shares during the period. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of iShares Bitcoin Trust in the fourth quarter valued at approximately $378,140,000.
About iShares Bitcoin Trust
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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.
Further Reading
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