Total Investment Management Inc. Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Total Investment Management Inc. acquired a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,567 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds also recently modified their holdings of the stock. Harbor Investment Advisory LLC bought a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at $34,000. PFS Partners LLC bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth about $50,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth about $59,000. Future Financial Wealth Managment LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at about $63,000. Finally, Roble Belko & Company Inc acquired a new position in Grayscale Bitcoin Trust during the 1st quarter valued at about $65,000.

Grayscale Bitcoin Trust Stock Performance

GBTC traded down $1.28 during mid-day trading on Friday, reaching $53.24. 3,860,291 shares of the stock were exchanged, compared to its average volume of 12,870,373. The company has a 50 day moving average price of $58.01 and a two-hundred day moving average price of $51.41. The stock has a market capitalization of $27.19 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1 year low of $17.00 and a 1 year high of $65.61.

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.