iShares Bitcoin Trust ETF (NASDAQ:IBIT) Sets New 12-Month Low – Here’s Why

iShares Bitcoin Trust ETF (NASDAQ:IBIT)’s share price hit a new 52-week low on Friday . The company traded as low as $34.01 and last traded at $34.11, with a volume of 41171677 shares changing hands. The stock had previously closed at $36.02.

iShares Bitcoin Trust ETF Trading Down 5.2%

The stock has a 50-day moving average price of $42.04 and a two-hundred day moving average price of $44.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in iShares Bitcoin Trust ETF by 21.5% in the fourth quarter. Morgan Stanley now owns 13,440,659 shares of the company’s stock worth $667,329,000 after acquiring an additional 2,374,482 shares in the last quarter. Mubadala Investment Co PJSC grew its position in iShares Bitcoin Trust ETF by 45.6% in the fourth quarter. Mubadala Investment Co PJSC now owns 12,702,323 shares of the company’s stock worth $630,670,000 after acquiring an additional 3,975,351 shares in the last quarter. Laurore Ltd purchased a new position in iShares Bitcoin Trust ETF in the fourth quarter worth about $436,239,000. Al Warda Investments RSC Ltd grew its position in iShares Bitcoin Trust ETF by 3.2% in the fourth quarter. Al Warda Investments RSC Ltd now owns 8,218,712 shares of the company’s stock worth $408,059,000 after acquiring an additional 255,319 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in iShares Bitcoin Trust ETF by 19.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 6,782,398 shares of the company’s stock worth $440,856,000 after acquiring an additional 1,093,183 shares in the last quarter.

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.