Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. grew its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,459 shares of the company’s stock after purchasing an additional 285 shares during the period. Essex Financial Services Inc.’s holdings in Grayscale Bitcoin Trust were worth $922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GBTC. Activest Wealth Management grew its position in Grayscale Bitcoin Trust by 53.0% in the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after buying an additional 140 shares in the last quarter. Mutual Advisors LLC boosted 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 acquiring an additional 146 shares in the last quarter. Synovus Financial Corp increased its stake in shares of Grayscale Bitcoin Trust by 0.8% during the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock valued at $1,058,000 after acquiring an additional 169 shares during the period. Flagstar Advisors Inc. raised its holdings in Grayscale Bitcoin Trust by 2.7% during the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after purchasing an additional 196 shares in the last quarter. Finally, Choreo LLC lifted its position in Grayscale Bitcoin Trust by 0.8% in the fourth quarter. Choreo LLC now owns 27,301 shares of the company’s stock worth $2,026,000 after purchasing an additional 212 shares during the period.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC stock opened at $75.40 on Wednesday. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11. The business’s fifty day moving average is $78.57 and its 200-day moving average is $62.97. The stock has a market cap of $38.51 billion, a PE ratio of 2.29 and a beta of 1.25.

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.