Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Mountain Capital Investment Advisors Inc.

Mountain Capital Investment Advisors Inc. cut its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 8.3% during the fourth quarter, Holdings Channel reports. The firm owned 3,921 shares of the company’s stock after selling 353 shares during the quarter. Mountain Capital Investment Advisors Inc.’s holdings in Grayscale Bitcoin Trust were worth $290,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. increased its stake in Grayscale Bitcoin Trust by 310.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after buying an additional 310 shares during the period. Activest Wealth Management grew its stake in shares of Grayscale Bitcoin Trust by 53.0% in the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after acquiring an additional 140 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter worth $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter worth $36,000. Finally, Bear Mountain Capital Inc. raised its stake in shares of 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 acquiring an additional 325 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

GBTC stock opened at $65.04 on Thursday. The business’s 50-day moving average is $69.72 and its two-hundred day moving average is $69.03. The firm has a market capitalization of $15.94 billion, a P/E ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year 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.