Traders Purchase High Volume of Grayscale Bitcoin Trust Call Options (NYSEARCA:GBTC)

Grayscale Bitcoin Trust (NYSEARCA:GBTC) was the target of unusually large options trading on Monday. Traders purchased 15,075 call options on the stock. This represents an increase of 439% compared to the typical daily volume of 2,799 call options.

Hedge Funds Weigh In On Grayscale Bitcoin Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Quarterback LLC bought a new position in Grayscale Bitcoin Trust during the 4th quarter worth approximately $215,000. RFG Advisory LLC bought a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $262,000. Arkadios Wealth Advisors bought a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $245,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $692,000. Finally, Mutual Advisors LLC grew its position in shares of Grayscale Bitcoin Trust by 2.0% in the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock worth $583,000 after buying an additional 146 shares during the last quarter.

Grayscale Bitcoin Trust Stock Performance

GBTC traded up $3.28 on Monday, hitting $69.60. 804,511 shares of the company were exchanged, compared to its average volume of 4,761,433. The firm has a fifty day simple moving average of $74.24 and a two-hundred day simple moving average of $67.36. Grayscale Bitcoin Trust has a 12 month low of $39.56 and a 12 month high of $86.11. The stock has a market capitalization of $17.06 billion, a PE ratio of 2.23 and a beta of 2.59.

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.