Larson Financial Group LLC lifted its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 204.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,433 shares of the company’s stock after purchasing an additional 68,768 shares during the quarter. Larson Financial Group LLC’s holdings in Grayscale Bitcoin Trust were worth $5,173,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. bought a new position in Grayscale Bitcoin Trust in the second quarter worth approximately $26,000. Global Wealth Strategies & Associates acquired a new position in shares of Grayscale Bitcoin Trust during the second quarter worth approximately $27,000. ZRC Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Trust in the 2nd quarter worth $29,000. Avondale Wealth Management acquired a new stake in Grayscale Bitcoin Trust in the 2nd quarter valued at $33,000. Finally, West Oak Capital LLC increased its stake in Grayscale Bitcoin Trust by 100.0% during the 3rd quarter. West Oak Capital LLC now owns 640 shares of the company’s stock valued at $32,000 after purchasing an additional 320 shares in the last quarter.
Grayscale Bitcoin Trust Trading Up 1.1 %
GBTC opened at $78.87 on Friday. The company has a market cap of $40.28 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The company’s fifty day moving average price is $56.59 and its two-hundred day moving average price is $54.80. Grayscale Bitcoin Trust has a 1-year low of $29.88 and a 1-year high of $79.34.
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.
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