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

iShares Bitcoin Trust (NASDAQ:IBIT) gapped down prior to trading on Tuesday . The stock had previously closed at $53.41, but opened at $50.66. iShares Bitcoin Trust shares last traded at $49.78, with a volume of 22,035,221 shares.

iShares Bitcoin Trust Price Performance

The firm has a fifty day simple moving average of $55.94 and a two-hundred day simple moving average of $46.41.

Institutional Trading of iShares Bitcoin Trust

Several hedge funds and other institutional investors have recently made changes to their positions in IBIT. Vision Financial Markets LLC bought a new position in iShares Bitcoin Trust in the 4th quarter worth about $25,000. Union Savings Bank bought a new position in iShares Bitcoin Trust in the 4th quarter valued at approximately $25,000. City Holding Co. boosted its stake in iShares Bitcoin Trust by 95.2% during the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after purchasing an additional 238 shares during the last quarter. Stephens Consulting LLC raised its stake in shares of iShares Bitcoin Trust by 62.8% in the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Finally, Crewe Advisors LLC raised its stake in shares of iShares Bitcoin Trust by 151.0% in the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after purchasing an additional 302 shares during 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.