iShares Bitcoin Trust (NASDAQ:IBIT) Trading Down 2.6% – Should You Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price were down 2.6% on Thursday . The stock traded as low as $52.51 and last traded at $53.34. Approximately 46,619,577 shares were traded during trading, an increase of 4% from the average daily volume of 44,964,426 shares. The stock had previously closed at $54.79.

iShares Bitcoin Trust Stock Down 2.6 %

The company has a 50 day moving average of $52.86 and a 200-day moving average of $41.44.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IBIT. IMC Chicago LLC bought a new position in iShares Bitcoin Trust in the 3rd quarter valued at about $323,337,000. D. E. Shaw & Co. Inc. boosted its position in shares of iShares Bitcoin Trust by 1,657.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock worth $90,014,000 after acquiring an additional 2,486,608 shares in the last quarter. Sculptor Capital LP increased its stake in iShares Bitcoin Trust by 188.1% in the second quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock valued at $115,831,000 after acquiring an additional 2,215,107 shares during the last quarter. Aristeia Capital L.L.C. increased its stake in iShares Bitcoin Trust by 47.2% in the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock valued at $202,806,000 after acquiring an additional 1,903,644 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in iShares Bitcoin Trust during the second quarter valued at approximately $56,965,000.

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.