iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 0.5% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price fell 0.5% during mid-day trading on Monday . The stock traded as low as $46.34 and last traded at $47.31. 10,296,379 shares traded hands during trading, a decline of 77% from the average session volume of 44,614,367 shares. The stock had previously closed at $47.56.

iShares Bitcoin Trust Stock Up 3.2 %

The firm’s 50-day moving average is $52.14 and its 200 day moving average is $49.09.

Institutional Trading of iShares Bitcoin Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Modus Advisors LLC lifted its stake in iShares Bitcoin Trust by 24.5% in the 1st quarter. Modus Advisors LLC now owns 13,697 shares of the company’s stock valued at $641,000 after buying an additional 2,697 shares in the last quarter. Fire Capital Management LLC acquired a new position in shares of iShares Bitcoin Trust in the fourth quarter worth $386,000. Mascagni Wealth Management Inc. purchased a new stake in shares of iShares Bitcoin Trust in the fourth quarter valued at $149,000. Objective Capital Management LLC boosted its stake in shares of iShares Bitcoin Trust by 4.3% during the fourth quarter. Objective Capital Management LLC now owns 35,480 shares of the company’s stock valued at $1,882,000 after acquiring an additional 1,468 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in iShares Bitcoin Trust by 58.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 140,574 shares of the company’s stock worth $7,457,000 after purchasing an additional 52,057 shares in the last quarter.

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.