Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Smith Moore & CO.

Smith Moore & CO. decreased its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 27.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,808 shares of the company’s stock after selling 4,187 shares during the quarter. Smith Moore & CO.’s holdings in Grayscale Bitcoin Trust were worth $800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the third quarter worth about $857,000. EP Wealth Advisors LLC boosted its stake in Grayscale Bitcoin Trust by 74.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 13,807 shares of the company’s stock worth $697,000 after purchasing an additional 5,871 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Grayscale Bitcoin Trust during the 3rd quarter worth approximately $62,000. Glass Jacobson Investment Advisors llc increased its stake in Grayscale Bitcoin Trust by 29.8% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 2,590 shares of the company’s stock valued at $131,000 after purchasing an additional 595 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust in the third quarter worth $379,000.

Grayscale Bitcoin Trust Trading Up 2.4 %

NYSEARCA:GBTC opened at $66.32 on Friday. The firm has a fifty day simple moving average of $71.60 and a 200-day simple moving average of $68.57. Grayscale Bitcoin Trust has a 12 month low of $39.56 and a 12 month high of $86.11. The company has a market capitalization of $16.26 billion, a P/E ratio of 2.23 and a beta of 2.59.

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.