iShares Bitcoin Trust (NASDAQ:IBIT) Sees Significant Drop in Short Interest

iShares Bitcoin Trust (NASDAQ:IBIT) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 9,260,000 shares, a drop of 22.6% from the October 15th total of 11,960,000 shares. Based on an average daily trading volume, of 31,368,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of iShares Bitcoin Trust

A number of large investors have recently modified their holdings of IBIT. BNP Paribas Financial Markets purchased a new stake in iShares Bitcoin Trust in the first quarter worth about $42,000. Kingsview Wealth Management LLC purchased a new stake in shares of iShares Bitcoin Trust in the 1st quarter worth approximately $1,403,000. HBK Sorce Advisory LLC bought a new position in shares of iShares Bitcoin Trust during the first quarter valued at approximately $243,000. Dorsey & Whitney Trust CO LLC purchased a new position in iShares Bitcoin Trust during the first quarter valued at approximately $325,000. Finally, Chesapeake Capital Corp IL purchased a new position in iShares Bitcoin Trust during the first quarter valued at approximately $1,050,000.

iShares Bitcoin Trust Price Performance

iShares Bitcoin Trust stock opened at $52.13 on Friday. The firm has a 50-day moving average of $38.39 and a two-hundred day moving average of $36.75. iShares Bitcoin Trust has a 1 year low of $22.02 and a 1 year high of $53.26.

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.