Cullen Frost Bankers Inc. acquired a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 490 shares of the company’s stock, valued at approximately $36,000.
A number of other institutional investors have also recently added to or reduced their stakes in GBTC. Armstrong Advisory Group Inc. lifted 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 buying an additional 310 shares in the last quarter. Activest Wealth Management raised its position in Grayscale Bitcoin Trust by 53.0% in the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after purchasing an additional 140 shares during the period. Synergy Investment Management LLC purchased a new stake in Grayscale Bitcoin Trust in the fourth quarter valued at $30,000. Bear Mountain Capital Inc. raised its position in Grayscale Bitcoin Trust by 162.5% in the fourth quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock valued at $43,000 after purchasing an additional 325 shares during the period. Finally, Icon Wealth Advisors LLC purchased a new stake in Grayscale Bitcoin Trust in the third quarter valued at $53,000.
Grayscale Bitcoin Trust Stock Down 2.3 %
NYSEARCA:GBTC opened at $68.79 on Monday. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The company has a market capitalization of $17.02 billion, a P/E ratio of 2.23 and a beta of 2.59. The stock’s fifty day moving average is $76.30 and its two-hundred day moving average is $66.11.
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.
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Want to see what other hedge funds are holding GBTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report).
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