Fiduciary Trust Co Cuts Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Fiduciary Trust Co lessened its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,115 shares of the company’s stock after selling 1,900 shares during the period. Fiduciary Trust Co’s holdings in Grayscale Bitcoin Trust were worth $3,894,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GBTC. Quent Capital LLC bought a new stake in shares of Grayscale Bitcoin Trust in the 1st quarter valued at about $460,000. Comerica Bank bought a new position in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $361,000. Cetera Investment Advisers bought a new position in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $22,576,000. Cetera Advisors LLC bought a new position in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $11,555,000. Finally, Soltis Investment Advisors LLC bought a new position in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $1,384,000.

Grayscale Bitcoin Trust Price Performance

GBTC opened at $76.82 on Friday. The business has a 50 day simple moving average of $58.77 and a two-hundred day simple moving average of $55.36. The firm has a market capitalization of $39.23 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a one year low of $30.01 and a one year high of $79.34.

Grayscale Bitcoin Trust Profile

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.