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

iShares Bitcoin Trust (NASDAQ:IBIT) was the target of a large drop in short interest during 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 daily volume of 31,368,700 shares, the short-interest ratio is currently 0.3 days.

iShares Bitcoin Trust Price Performance

NASDAQ IBIT opened at $52.13 on Friday. The business’s 50 day moving average price is $38.39 and its 200-day moving average price is $36.75. iShares Bitcoin Trust has a fifty-two week low of $22.02 and a fifty-two week high of $53.26.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. IMC Chicago LLC purchased a new position in shares of iShares Bitcoin Trust during the 3rd quarter worth about $323,337,000. Aristeia Capital L.L.C. boosted its position in shares of iShares Bitcoin Trust by 47.2% during the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock valued at $202,806,000 after buying an additional 1,903,644 shares during the period. Sculptor Capital LP grew its stake in shares of iShares Bitcoin Trust by 188.1% during the second quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock valued at $115,831,000 after buying an additional 2,215,107 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of iShares Bitcoin Trust by 1,657.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock worth $90,014,000 after acquiring an additional 2,486,608 shares during the last quarter. Finally, Bracebridge Capital LLC purchased a new position in iShares Bitcoin Trust during the 1st quarter valued at $100,639,000.

iShares Bitcoin Trust 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.