Arete Wealth Advisors LLC Raises Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Arete Wealth Advisors LLC lifted its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 11.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,308 shares of the company’s stock after purchasing an additional 643 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Quarterback LLC bought a new position in Grayscale Bitcoin Trust in the 4th quarter worth $215,000. RFG Advisory LLC bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth about $262,000. Arkadios Wealth Advisors bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth about $245,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter worth about $692,000. Finally, Mutual Advisors LLC raised its stake in Grayscale Bitcoin Trust by 2.0% during the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock valued at $583,000 after purchasing an additional 146 shares during the period.

Grayscale Bitcoin Trust Price Performance

GBTC stock opened at $66.32 on Friday. Grayscale Bitcoin Trust has a 1-year low of $39.56 and a 1-year high of $86.11. The business has a 50 day simple moving average of $71.60 and a two-hundred day simple moving average of $68.72. The company has a market capitalization of $16.26 billion, a price-to-earnings 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.