New World Advisors LLC Buys New Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

New World Advisors LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,161 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently modified their holdings of the stock. Activest Wealth Management boosted its stake in Grayscale Bitcoin Trust by 53.0% during the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after purchasing an additional 140 shares during the period. Mutual Advisors LLC boosted 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 worth $583,000 after purchasing an additional 146 shares during the period. Synovus Financial Corp boosted its stake in Grayscale Bitcoin Trust by 0.8% during the 3rd quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after purchasing an additional 169 shares during the period. Flagstar Advisors Inc. boosted its stake in Grayscale Bitcoin Trust by 2.7% during the 3rd quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after purchasing an additional 196 shares during the period. Finally, Mainstay Capital Management LLC ADV boosted its stake in Grayscale Bitcoin Trust by 0.8% during the 4th quarter. Mainstay Capital Management LLC ADV now owns 24,048 shares of the company’s stock worth $1,780,000 after purchasing an additional 200 shares during the period.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA:GBTC opened at $75.06 on Monday. The stock has a market cap of $18.97 billion, a P/E ratio of 2.23 and a beta of 2.51. The firm has a fifty day moving average price of $78.14 and a 200 day moving average price of $64.59. Grayscale Bitcoin Trust has a 1-year low of $39.56 and a 1-year high of $86.11.

Grayscale Bitcoin Trust Company 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.