PNC Financial Services Group Inc. Lowers Stock Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

PNC Financial Services Group Inc. cut its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 46,522 shares of the company’s stock after selling 7,023 shares during the period. PNC Financial Services Group Inc.’s holdings in Grayscale Bitcoin Trust were worth $2,349,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GBTC. BOKF NA purchased a new position in Grayscale Bitcoin Trust during the first quarter worth about $57,000. Bleakley Financial Group LLC lifted its holdings in shares of Grayscale Bitcoin Trust by 2.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 60,389 shares of the company’s stock worth $3,050,000 after acquiring an additional 1,349 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the third quarter worth approximately $46,000. Western Wealth Management LLC grew its holdings in Grayscale Bitcoin Trust by 30.2% in the second quarter. Western Wealth Management LLC now owns 13,068 shares of the company’s stock valued at $696,000 after purchasing an additional 3,030 shares during the period. Finally, Quent Capital LLC acquired a new position in Grayscale Bitcoin Trust during the first quarter worth approximately $460,000.

Grayscale Bitcoin Trust Stock Down 4.4 %

NYSEARCA:GBTC opened at $75.38 on Tuesday. The company has a market cap of $38.50 billion, a P/E ratio of 2.29 and a beta of 1.25. The firm’s 50 day moving average is $57.18 and its two-hundred day moving average is $54.93. Grayscale Bitcoin Trust has a fifty-two week low of $29.88 and a fifty-two week high of $79.34.

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.