Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 690,512 shares of the company’s stock after selling 19,987 shares during the period. HighTower Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $34,892,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. DHJJ Financial Advisors Ltd. purchased a new position in shares of Grayscale Bitcoin Trust during the second quarter worth about $26,000. West Oak Capital LLC lifted its position in Grayscale Bitcoin Trust by 100.0% during the 3rd quarter. West Oak Capital LLC now owns 640 shares of the company’s stock worth $32,000 after acquiring an additional 320 shares during the period. Asset Dedication LLC purchased a new position in shares of Grayscale Bitcoin Trust in the 2nd quarter valued at approximately $40,000. CWM LLC acquired a new position in shares of Grayscale Bitcoin Trust in the second quarter valued at approximately $42,000. Finally, Hollencrest Capital Management raised its stake in shares of Grayscale Bitcoin Trust by 88.9% during the second quarter. Hollencrest Capital Management now owns 850 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the last quarter.

Grayscale Bitcoin Trust Price Performance

NYSEARCA:GBTC opened at $78.69 on Friday. The firm has a market cap of $40.19 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The firm’s fifty day moving average price is $61.43 and its 200 day moving average price is $56.05. Grayscale Bitcoin Trust has a 1-year low of $31.93 and a 1-year high of $82.44.

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.