iShares Bitcoin Trust (NASDAQ:IBIT) Sees Large Volume Increase - What's Next?
iShares Bitcoin Trust (NASDAQ:IBIT) experienced a significant increase in trading volume, with approximately 17.9 million shares traded, a 46% decline from the previous session. The stock last traded at $0.34, down from a previous close of $0.72. Institutional investors have been active, with notable increases in stakes from firms like Aristeia Capital and D.E. Shaw & Co. The fund, launched by BlackRock, aims to track Bitcoin's spot price and has a "Hold" rating from analysts, who suggest other stocks may be better investments.
Shares of iShares Bitcoin Trust (NASDAQ:IBIT - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 17,906,232 shares traded hands during trading, a decline of 46% from the previous session's volume of 32,899,352 shares.The stock last traded at $55.34 and had previously closed at $53.72.
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iShares Bitcoin Trust Stock Performance
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The business's 50-day simple moving average is $39.59 and its 200 day simple moving average is $37.15.
Institutional Trading of iShares Bitcoin Trust
Institutional investors have recently added to or reduced their stakes in the business. IMC Chicago LLC bought a new stake in iShares Bitcoin Trust in the 3rd quarter valued at $323,337,000. Aristeia Capital L.L.C. lifted its position in 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 worth $202,806,000 after buying an additional 1,903,644 shares in the last quarter. Sculptor Capital LP grew its stake in iShares Bitcoin Trust by 188.1% in the 2nd quarter. Sculptor Capital LP now owns 3,392,812 shares of the company's stock valued at $115,831,000 after buying an additional 2,215,107 shares during the last quarter. D. E. Shaw & Co. Inc. grew 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 purchasing an additional 2,486,608 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of iShares Bitcoin Trust during the 2nd quarter worth approximately $56,965,000.
About iShares Bitcoin Trust
(Get Free Report)- Top-Performing Non-Leveraged ETFs This Year
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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