Genesee Capital Advisors LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,995 shares of the company’s stock, valued at approximately $296,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its position in Grayscale Bitcoin Trust by 310.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after acquiring an additional 310 shares during the period. 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 valued at $32,000 after purchasing an additional 320 shares during the period. ORG Wealth Partners LLC acquired a new position in Grayscale Bitcoin Trust during the 3rd quarter valued at about $46,000. Future Financial Wealth Managment LLC bought a new stake in shares of Grayscale Bitcoin Trust in the 3rd quarter valued at about $50,000. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust in the 3rd quarter valued at about $53,000.
Grayscale Bitcoin Trust Stock Performance
NYSEARCA GBTC opened at $80.17 on Wednesday. The business has a 50 day simple moving average of $77.94 and a 200 day simple moving average of $61.44. Grayscale Bitcoin Trust has a 52-week low of $37.31 and a 52-week high of $86.11. The stock has a market cap of $40.94 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.
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.
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