Smith Moore & CO. lessened its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,808 shares of the company’s stock after selling 4,187 shares during the period. Smith Moore & CO.’s holdings in Grayscale Bitcoin Trust were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Quarterback LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $215,000. RFG Advisory LLC purchased a new position in Grayscale Bitcoin Trust during the fourth quarter valued at approximately $262,000. Arkadios Wealth Advisors acquired a new position in Grayscale Bitcoin Trust in the fourth quarter valued at approximately $245,000. U.S. Capital Wealth Advisors LLC purchased a new stake in Grayscale Bitcoin Trust in the 4th quarter worth approximately $692,000. Finally, Mutual Advisors LLC grew its stake in shares of 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.
Grayscale Bitcoin Trust Price Performance
NYSEARCA:GBTC opened at $66.32 on Friday. The company has a 50 day moving average price of $71.60 and a 200-day moving average price of $68.57. Grayscale Bitcoin Trust has a 1-year low of $39.56 and a 1-year high of $86.11. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59.
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.
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