iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 0.6% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT) shares traded down 0.6% on Wednesday . The company traded as low as $55.60 and last traded at $55.81. 9,568,152 shares were traded during trading, a decline of 80% from the average session volume of 47,607,285 shares. The stock had previously closed at $56.13.

iShares Bitcoin Trust Stock Down 1.2 %

The company has a 50 day moving average of $56.35 and a two-hundred day moving average of $44.55.

Institutional Investors Weigh In On iShares Bitcoin Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of iShares Bitcoin Trust by 24.4% during the 4th quarter. US Bancorp DE now owns 257,282 shares of the company’s stock valued at $13,649,000 after purchasing an additional 50,519 shares during the period. WR Wealth Planners LLC lifted its stake in iShares Bitcoin Trust by 63.7% in the 4th quarter. WR Wealth Planners LLC now owns 1,974 shares of the company’s stock worth $105,000 after purchasing an additional 768 shares in the last quarter. Maripau Wealth Management LLC boosted its stake in iShares Bitcoin Trust by 47.6% during the fourth quarter. Maripau Wealth Management LLC now owns 63,847 shares of the company’s stock valued at $3,387,000 after buying an additional 20,585 shares during the last quarter. SVB Wealth LLC bought a new position in shares of iShares Bitcoin Trust during the 4th quarter valued at approximately $2,574,000. Finally, Roanoke Asset Management Corp NY bought a new stake in shares of iShares Bitcoin Trust in the 4th quarter worth about $229,000.

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.