Graybill Wealth Management LTD. acquired a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $316,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at about $66,000. Next Capital Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter valued at approximately $670,000. Equitable Trust Co. acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth approximately $203,000. Canton Hathaway LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at approximately $942,000. Finally, SVB Wealth LLC acquired a new position in Grayscale Bitcoin Trust in the fourth quarter valued at approximately $770,000.
Grayscale Bitcoin Trust Stock Up 1.4 %
Shares of GBTC traded up $0.74 during trading on Thursday, reaching $54.87. 995,300 shares of the company traded hands, compared to its average volume of 12,936,699. The stock has a 50-day simple moving average of $58.14 and a 200-day simple moving average of $51.27. The stock has a market cap of $28.02 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a twelve month low of $17.00 and a twelve month high of $65.61.
About Grayscale Bitcoin Trust
The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of bitcoin (BTC). An investment in the fund is not a direct investment in bitcoin. GBTC was launched on Jan 11, 2024 and is issued by Grayscale.
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