Flagship Harbor Advisors LLC Lowers Stock Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Flagship Harbor Advisors LLC cut its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,356 shares of the company’s stock after selling 652 shares during the period. Flagship Harbor Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $396,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mutual Advisors LLC grew its holdings in shares of Grayscale Bitcoin Trust by 2.0% in the fourth quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock valued at $583,000 after purchasing an additional 146 shares in the last quarter. Synovus Financial Corp boosted its position in Grayscale Bitcoin Trust by 0.8% in the 3rd quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock valued at $1,058,000 after buying an additional 169 shares during the period. Flagstar Advisors Inc. grew its stake in shares of Grayscale Bitcoin Trust by 2.7% in the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after acquiring an additional 196 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Grayscale Bitcoin Trust by 5.5% during the fourth quarter. Cornerstone Wealth Management LLC now owns 4,324 shares of the company’s stock worth $320,000 after acquiring an additional 224 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of Grayscale Bitcoin Trust by 6.3% in the third quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock valued at $235,000 after acquiring an additional 276 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

GBTC opened at $80.17 on Wednesday. The business has a fifty day moving average price of $77.94 and a 200 day moving average price of $61.44. Grayscale Bitcoin Trust has a 12 month low of $37.31 and a 12 month high of $86.11. The stock has a market capitalization of $40.94 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

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.