Synergy Asset Management LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Synergy Asset Management LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,960 shares of the company’s stock, valued at approximately $376,000.

Several other institutional investors also recently modified their holdings of the business. Toth Financial Advisory Corp bought a new position in Grayscale Bitcoin Trust during the first quarter valued at $28,000. Atticus Wealth Management LLC bought a new position in Grayscale Bitcoin Trust during the first quarter valued at $33,000. Harbor Investment Advisory LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $34,000. Wolff Wiese Magana LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $45,000. Finally, PFS Partners LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $50,000.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA:GBTC traded down $0.87 during trading on Tuesday, hitting $55.22. 2,500,648 shares of the company were exchanged, compared to its average volume of 12,710,720. The company has a market cap of $28.20 billion, a PE ratio of 2.29 and a beta of 1.25. The stock has a 50 day moving average of $57.95 and a 200 day moving average of $51.63. Grayscale Bitcoin Trust has a 52-week low of $17.00 and a 52-week high of $65.61.

Grayscale Bitcoin Trust 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.