CIBC Private Wealth Group LLC Decreases Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

CIBC Private Wealth Group LLC decreased its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 34.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,340 shares of the company’s stock after selling 16,805 shares during the period. CIBC Private Wealth Group LLC’s holdings in Grayscale Bitcoin Trust were worth $2,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Quarterback LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth approximately $215,000. RFG Advisory LLC bought a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter worth $262,000. Arkadios Wealth Advisors purchased a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at $245,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth about $692,000. Finally, Mutual Advisors LLC increased its stake in Grayscale Bitcoin Trust by 2.0% in the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock worth $583,000 after buying an additional 146 shares during the period.

Grayscale Bitcoin Trust Price Performance

Grayscale Bitcoin Trust stock opened at $68.70 on Thursday. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. The firm has a 50-day moving average of $72.28 and a two-hundred day moving average of $68.46. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11.

Grayscale Bitcoin Trust Company 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.