iShares Bitcoin Trust (NYSEARCA:IBIT) Stock Price Down 4.5% – Here’s Why

iShares Bitcoin Trust (NYSEARCA:IBIT)’s stock price were down 4.5% on Monday . The stock traded as low as $53.67 and last traded at $53.92. Approximately 56,022,980 shares changed hands during mid-day trading, an increase of 67% from the average daily volume of 33,521,727 shares. The stock had previously closed at $56.49.

iShares Bitcoin Trust Stock Performance

The business’s 50-day simple moving average is $40.49 and its 200-day simple moving average is $37.45.

iShares Bitcoin Trust Company Profile

The Defiance Daily Short Digitizing the Economy ETF (IBIT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund-of-funds that provides daily inverse (-1x) exposure to the Amplify Transformational Data Sharing ETF (BLOK). IBIT was launched on Sep 7, 2022 and is managed by Defiance.