Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 3,014,451 shares, a growth of 123.7% from the April 15th total of 1,347,705 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,067,172 shares, the days-to-cover ratio is presently 1.5 days.
Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF
Several hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in Grayscale Bitcoin Trust ETF during the third quarter worth $29,000. Strengthening Families & Communities LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the third quarter worth about $33,000. Holos Integrated Wealth LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter worth about $28,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter worth about $27,000. Finally, Westfuller Advisors LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the third quarter worth about $38,000.
Grayscale Bitcoin Trust ETF Trading Down 2.9%
Shares of GBTC traded down $1.83 during trading hours on Friday, reaching $61.44. The company had a trading volume of 2,057,254 shares, compared to its average volume of 3,852,657. Grayscale Bitcoin Trust ETF has a 12-month low of $48.56 and a 12-month high of $99.12. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 2.23 and a beta of 2.22. The firm has a 50 day simple moving average of $57.28 and a 200-day simple moving average of $64.05.
About Grayscale Bitcoin Trust ETF
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.
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