Arete Wealth Advisors LLC Increases Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Arete Wealth Advisors LLC raised its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 11.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,308 shares of the company’s stock after acquiring an additional 643 shares during the period. Arete Wealth Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $468,000 as of its most recent SEC filing.

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

Grayscale Bitcoin Trust Price Performance

Shares of GBTC stock opened at $66.32 on Friday. The company has a market cap of $16.26 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11. The firm has a fifty day moving average price of $71.60 and a 200-day moving average price of $68.72.

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.