iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report) shares were down 1.7% during mid-day trading on Wednesday . The stock traded as low as $49.13 and last traded at $49.31. Approximately 8,488,603 shares traded hands during trading, a decline of 81% from the average daily volume of 45,183,379 shares. The stock had previously closed at $50.14.
iShares Bitcoin Trust Price Performance
The firm’s 50 day moving average price is $52.88 and its 200-day moving average price is $48.57.
Institutional Investors Weigh In On iShares Bitcoin Trust
Institutional investors have recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. bought a new position in iShares Bitcoin Trust in the third quarter valued at $206,000. Cerity Partners LLC grew its holdings in shares of iShares Bitcoin Trust by 51.9% in the 3rd quarter. Cerity Partners LLC now owns 188,505 shares of the company’s stock valued at $6,811,000 after acquiring an additional 64,396 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of iShares Bitcoin Trust by 55.9% in the third quarter. Brown Brothers Harriman & Co. now owns 1,985 shares of the company’s stock valued at $72,000 after acquiring an additional 712 shares during the last quarter. Townsquare Capital LLC increased its position in shares of iShares Bitcoin Trust by 20.7% in the third quarter. Townsquare Capital LLC now owns 36,627 shares of the company’s stock valued at $1,323,000 after acquiring an additional 6,279 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in iShares Bitcoin Trust by 97.9% during the third quarter. CreativeOne Wealth LLC now owns 18,957 shares of the company’s stock worth $685,000 after acquiring an additional 9,376 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.
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