iShares Bitcoin Trust (NASDAQ:IBIT - Get Free Report)'s stock price dropped 1.7% during mid-day trading on Wednesday . The stock traded as low as $49.13 and last traded at $49.31. Approximately 8,488,603 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 45,183,379 shares. The stock had previously closed at $50.14.
iShares Bitcoin Trust Price Performance
The stock has a 50 day moving average price of $52.64 and a 200 day moving average price of $48.68.
Hedge Funds Weigh In On iShares Bitcoin Trust
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Union Savings Bank bought a new position in shares of iShares Bitcoin Trust in the 4th quarter worth about $25,000. Vision Financial Markets LLC purchased a new stake in iShares Bitcoin Trust in the fourth quarter worth about $25,000. City Holding Co. grew its holdings in iShares Bitcoin Trust by 95.2% in the fourth quarter. City Holding Co. now owns 488 shares of the company's stock worth $26,000 after purchasing an additional 238 shares during the period. Stephens Consulting LLC increased its stake in shares of iShares Bitcoin Trust by 62.8% during the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company's stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. Finally, Crewe Advisors LLC lifted its holdings in shares of iShares Bitcoin Trust by 151.0% during the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company's stock valued at $27,000 after purchasing an additional 302 shares during the last quarter.
iShares Bitcoin Trust Company Profile
(
Get Free Report)
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.
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