Birch Hill Investment Advisors LLC Decreases Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Birch Hill Investment Advisors LLC lowered its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 19.3% in the fourth quarter, Holdings Channel reports. The fund owned 110,970 shares of the company’s stock after selling 26,541 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $8,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GBTC. Armstrong Advisory Group Inc. lifted its position in shares of Grayscale Bitcoin Trust by 310.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after buying an additional 310 shares during the last quarter. West Oak Capital LLC raised 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 worth $32,000 after acquiring an additional 320 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Grayscale Bitcoin Trust in the third quarter valued at $46,000. Icon Wealth Advisors LLC acquired a new position in Grayscale Bitcoin Trust in the third quarter valued at $53,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Grayscale Bitcoin Trust during the third quarter worth about $56,000.

Grayscale Bitcoin Trust Stock Performance

GBTC opened at $75.85 on Friday. Grayscale Bitcoin Trust has a one year low of $39.56 and a one year high of $86.11. The stock has a market capitalization of $38.74 billion, a P/E ratio of 2.29 and a beta of 1.25. The business’s 50-day simple moving average is $78.55 and its 200-day simple moving average is $62.77.

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.