KMG Fiduciary Partners LLC Takes Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

KMG Fiduciary Partners LLC purchased a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,949 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds also recently modified their holdings of the company. Capital Advisors Wealth Management LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at $271,000. Sanders Morris Harris LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 4th quarter worth $315,000. Brave Asset Management Inc. acquired a new position in shares of Grayscale Bitcoin Trust in the 4th quarter worth $235,000. Armstrong Advisory Group Inc. grew its holdings in shares of Grayscale Bitcoin Trust by 310.0% in the 4th 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 last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Grayscale Bitcoin Trust by 16.8% in the 4th quarter. Park Avenue Securities LLC now owns 8,378 shares of the company’s stock worth $620,000 after acquiring an additional 1,203 shares during the last quarter.

Grayscale Bitcoin Trust Stock Up 4.4 %

Shares of NYSEARCA GBTC opened at $83.05 on Friday. The stock has a market capitalization of $42.41 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The stock’s fifty day simple moving average is $76.57 and its 200 day simple moving average is $60.03. Grayscale Bitcoin Trust has a 52-week low of $34.31 and a 52-week high of $86.11.

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.