iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 3.4% – Should You Sell?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded down 3.4% during trading on Monday . The stock traded as low as $52.91 and last traded at $52.96. 16,769,462 shares were traded during trading, a decline of 52% from the average session volume of 35,151,770 shares. The stock had previously closed at $54.81.

iShares Bitcoin Trust Price Performance

The firm has a 50-day moving average of $49.06 and a two-hundred day moving average of $40.03.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of institutional investors have recently modified their holdings of the company. Glass Jacobson Investment Advisors llc acquired a new position in shares of iShares Bitcoin Trust in the second quarter valued at approximately $26,000. Asset Dedication LLC grew its stake in shares of iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of iShares Bitcoin Trust in the second quarter worth $31,000. Hantz Financial Services Inc. purchased a new stake in shares of iShares Bitcoin Trust during the second quarter worth $36,000. Finally, West Financial Advisors LLC acquired a new stake in shares of iShares Bitcoin Trust in the third quarter valued at $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.