Tcfg Wealth Management LLC Invests $222,000 in Grayscale Bitcoin Trust ETF $GBTC

Tcfg Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,621 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in shares of Grayscale Bitcoin Trust ETF by 90.9% during the first quarter. First Horizon Advisors Inc. now owns 420 shares of the company’s stock worth $27,000 after buying an additional 200 shares during the period. Hurley Capital LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the first quarter worth about $34,000. Flaharty Asset Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the first quarter worth about $39,000. Cornerstone Planning Group LLC boosted its stake in shares of Grayscale Bitcoin Trust ETF by 600.0% during the first quarter. Cornerstone Planning Group LLC now owns 875 shares of the company’s stock worth $57,000 after buying an additional 750 shares during the period. Finally, Headlands Technologies LLC boosted its stake in shares of Grayscale Bitcoin Trust ETF by 227.0% during the first quarter. Headlands Technologies LLC now owns 1,128 shares of the company’s stock worth $74,000 after buying an additional 783 shares during the period.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of GBTC opened at $95.37 on Wednesday. Grayscale Bitcoin Trust ETF has a fifty-two week low of $46.83 and a fifty-two week high of $99.12. The company has a market capitalization of $22.96 billion, a price-to-earnings ratio of 2.23 and a beta of 2.47. The firm has a 50-day simple moving average of $90.19 and a 200-day simple moving average of $83.31.

Grayscale Bitcoin Trust ETF 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.