Short Interest in iShares Bitcoin Trust ETF (NASDAQ:IBIT) Declines By 32.1%

iShares Bitcoin Trust ETF (NASDAQ:IBIT) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 14,470,819 shares, a drop of 32.1% from the November 30th total of 21,306,967 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 57,502,106 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 57,502,106 shares, the days-to-cover ratio is presently 0.3 days. Approximately 1.0% of the shares of the company are short sold.

iShares Bitcoin Trust ETF Price Performance

IBIT traded down $0.23 during trading on Monday, hitting $49.38. 32,087,103 shares of the company traded hands, compared to its average volume of 50,100,527. iShares Bitcoin Trust ETF has a one year low of $42.98 and a one year high of $71.82. The stock’s fifty day moving average is $54.16 and its 200 day moving average is $60.87.

Institutional Investors Weigh In On iShares Bitcoin Trust ETF

Several large investors have recently modified their holdings of IBIT. Sachetta LLC boosted its stake in iShares Bitcoin Trust ETF by 793.0% in the 3rd quarter. Sachetta LLC now owns 384 shares of the company’s stock worth $25,000 after purchasing an additional 341 shares during the period. Chapman Financial Group LLC purchased a new stake in shares of iShares Bitcoin Trust ETF in the third quarter worth about $25,000. Signature Resources Capital Management LLC boosted its position in shares of iShares Bitcoin Trust ETF by 81.6% in the second quarter. Signature Resources Capital Management LLC now owns 445 shares of the company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Anchor Investment Management LLC boosted its position in shares of iShares Bitcoin Trust ETF by 210.3% in the third quarter. Anchor Investment Management LLC now owns 450 shares of the company’s stock valued at $29,000 after acquiring an additional 305 shares during the period. Finally, RMG Wealth Management LLC purchased a new position in iShares Bitcoin Trust ETF during the second quarter valued at approximately $30,000.

About iShares Bitcoin Trust ETF

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.