iShares Bitcoin Trust (NASDAQ:IBIT) Sees Significant Drop in Short Interest

iShares Bitcoin Trust (NASDAQ:IBIT) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 9,260,000 shares, a drop of 22.6% from the October 15th total of 11,960,000 shares. Based on an average trading volume of 31,368,700 shares, the days-to-cover ratio is presently 0.3 days.

iShares Bitcoin Trust Stock Performance

IBIT opened at $49.73 on Friday. iShares Bitcoin Trust has a 12 month low of $22.02 and a 12 month high of $53.26. The stock’s 50 day moving average price is $37.60 and its 200 day moving average price is $36.53.

Institutional Trading of iShares Bitcoin Trust

Several large investors have recently added to or reduced their stakes in the business. Asset Dedication LLC boosted its stake in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Bfsg LLC boosted its stake in iShares Bitcoin Trust by 34.7% during the 2nd quarter. Bfsg LLC now owns 1,360 shares of the company’s stock valued at $46,000 after purchasing an additional 350 shares in the last quarter. Doliver Advisors LP boosted its stake in iShares Bitcoin Trust by 4.9% during the 3rd quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock valued at $273,000 after purchasing an additional 350 shares in the last quarter. Summit Global Investments boosted its stake in iShares Bitcoin Trust by 3.3% during the 3rd quarter. Summit Global Investments now owns 11,214 shares of the company’s stock valued at $405,000 after purchasing an additional 355 shares in the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in iShares Bitcoin Trust by 39.1% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 1,362 shares of the company’s stock valued at $46,000 after purchasing an additional 383 shares in the last quarter.

About iShares Bitcoin Trust

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.