iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Down – Time to Sell?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $56.23, but opened at $54.42. iShares Bitcoin Trust shares last traded at $54.17, with a volume of 5,990,378 shares changing hands.

iShares Bitcoin Trust Price Performance

The company has a 50 day moving average of $50.39 and a 200 day moving average of $40.46.

Institutional Inflows and Outflows

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