iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Down 1.7% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price traded down 1.7% on Wednesday . The company traded as low as $49.13 and last traded at $49.31. 8,488,603 shares were traded during mid-day trading, a decline of 81% from the average session volume of 45,183,379 shares. The stock had previously closed at $50.14.

iShares Bitcoin Trust Trading Down 2.0 %

The company’s 50-day moving average is $53.18 and its two-hundred day moving average is $48.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Great Valley Advisor Group Inc. purchased a new position in iShares Bitcoin Trust in the third quarter valued at approximately $206,000. Cerity Partners LLC lifted its position in shares of iShares Bitcoin Trust by 51.9% during the 3rd quarter. Cerity Partners LLC now owns 188,505 shares of the company’s stock valued at $6,811,000 after buying an additional 64,396 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of iShares Bitcoin Trust by 7.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 42,502 shares of the company’s stock valued at $1,536,000 after buying an additional 2,764 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of iShares Bitcoin Trust by 25.9% during the 3rd quarter. Larson Financial Group LLC now owns 18,649 shares of the company’s stock worth $674,000 after acquiring an additional 3,835 shares during the period. Finally, Centaurus Financial Inc. increased its holdings in iShares Bitcoin Trust by 18.8% in the 3rd quarter. Centaurus Financial Inc. now owns 10,438 shares of the company’s stock worth $377,000 after acquiring an additional 1,655 shares during the last quarter.

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.