Shares of iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report) dropped 2.8% during mid-day trading on Wednesday . The company traded as low as $33.99 and last traded at $34.76. Approximately 52,260,804 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 37,783,375 shares. The stock had previously closed at $35.75.
iShares Bitcoin Trust Stock Performance
The company’s 50 day simple moving average is $36.05.
Institutional Investors Weigh In On iShares Bitcoin Trust
A number of hedge funds have recently added to or reduced their stakes in the stock. Quattro Financial Advisors LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $18,948,000. Brookstone Capital Management bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $7,017,000. Fiduciary Alliance LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $5,380,000. Panoramic Investment Advisors LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $4,921,000. Finally, Epiq Partners LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $4,207,000.
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