iShares Bitcoin Trust (NASDAQ:IBIT) Shares Down 3.5% – Should You Sell?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) were down 3.5% during mid-day trading on Monday . The company traded as low as $57.07 and last traded at $57.61. Approximately 21,943,202 shares were traded during trading, a decline of 55% from the average daily volume of 48,676,160 shares. The stock had previously closed at $59.70.

iShares Bitcoin Trust Price Performance

The firm has a 50-day moving average price of $55.98 and a two-hundred day moving average price of $43.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Avestar Capital LLC lifted its stake in iShares Bitcoin Trust by 25.0% during the fourth quarter. Avestar Capital LLC now owns 83,119 shares of the company’s stock worth $4,409,000 after purchasing an additional 16,650 shares during the period. Phraction Management LLC acquired a new position in shares of iShares Bitcoin Trust in the 4th quarter worth approximately $1,374,000. Three Bridge Wealth Advisors LLC bought a new position in shares of iShares Bitcoin Trust during the 4th quarter worth approximately $229,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in iShares Bitcoin Trust in the 4th quarter valued at $492,000. Finally, Avion Wealth acquired a new stake in iShares Bitcoin Trust in the 4th quarter valued at $58,000.

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.