iShares Bitcoin Trust ETF (NASDAQ:IBIT) Reaches New 1-Year Low – Time to Sell?

iShares Bitcoin Trust ETF (NASDAQ:IBIT) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $33.41 and last traded at $33.71, with a volume of 57738499 shares traded. The stock had previously closed at $35.31.

iShares Bitcoin Trust ETF Price Performance

The firm has a 50 day moving average price of $41.33 and a 200 day moving average price of $43.46.

Institutional Investors Weigh In On iShares Bitcoin Trust ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBIT. Chapman Financial Group LLC purchased a new stake in shares of iShares Bitcoin Trust ETF in the third quarter worth $25,000. Marshall & Sterling Wealth Advisors Inc. boosted its holdings in iShares Bitcoin Trust ETF by 12,500.0% in the 4th quarter. Marshall & Sterling Wealth Advisors Inc. now owns 504 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period. Key Capital Management INC purchased a new stake in iShares Bitcoin Trust ETF in the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC increased its stake in iShares Bitcoin Trust ETF by 637.5% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 531 shares of the company’s stock worth $26,000 after buying an additional 459 shares in the last quarter. Finally, Sfam LLC bought a new stake in iShares Bitcoin Trust ETF during the fourth quarter valued at about $26,000.

iShares Bitcoin Trust ETF 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.