Cypress Wealth Services LLC Buys New Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Cypress Wealth Services LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,869 shares of the company’s stock, valued at approximately $560,000.

Several other institutional investors have also recently added to or reduced their stakes in GBTC. Harbor Investment Advisory LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $34,000. PFS Partners LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $50,000. Future Financial Wealth Managment LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $63,000. Roble Belko & Company Inc acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $65,000. Finally, Optimum Investment Advisors purchased a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth about $95,000.

Grayscale Bitcoin Trust Stock Performance

Shares of NYSEARCA:GBTC traded down $0.58 during trading on Friday, reaching $53.94. 2,530,112 shares of the stock were exchanged, compared to its average volume of 12,860,029. Grayscale Bitcoin Trust has a 12-month low of $17.00 and a 12-month high of $65.61. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The firm’s 50-day moving average price is $58.09 and its 200 day moving average price is $51.39.

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.