Summit Financial LLC bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) during the 4th quarter, Holdings Channel reports. The fund bought 3,606 shares of the company’s stock, valued at approximately $267,000.
A number of other hedge funds also recently bought and sold shares of the business. Synergy Investment Management LLC purchased a new stake in Grayscale Bitcoin Trust in the 4th quarter worth approximately $30,000. Activest Wealth Management increased its stake in shares of Grayscale Bitcoin Trust by 53.0% during the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after buying an additional 140 shares during the period. Armstrong Advisory Group Inc. raised its holdings in shares of Grayscale Bitcoin Trust by 310.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after acquiring an additional 310 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $36,000. Finally, Bear Mountain Capital Inc. boosted its holdings in 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 Trading Down 5.7 %
Shares of Grayscale Bitcoin Trust stock opened at $64.76 on Friday. The company’s fifty day simple moving average is $71.94 and its two-hundred day simple moving average is $68.43. Grayscale Bitcoin Trust has a 12-month low of $39.56 and a 12-month high of $86.11. The company has a market cap of $15.87 billion, a P/E ratio of 2.23 and a beta of 2.59.
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.
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Want to see what other hedge funds are holding GBTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report).
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