Journey Advisory Group LLC Reduces Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Journey Advisory Group LLC reduced its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 8.7% in the second quarter, Holdings Channel.com reports. The fund owned 4,915 shares of the company’s stock after selling 470 shares during the period. Journey Advisory Group LLC’s holdings in Grayscale Bitcoin Trust were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in Grayscale Bitcoin Trust in the 1st quarter worth $117,350,000. Farallon Capital Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter worth $85,221,000. Sloy Dahl & Holst LLC purchased a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at about $32,959,000. Bracebridge Capital LLC bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $26,526,000. Finally, Mad River Investors purchased a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $25,251,000.

Grayscale Bitcoin Trust Trading Down 3.4 %

Grayscale Bitcoin Trust stock opened at $44.66 on Friday. Grayscale Bitcoin Trust has a 12 month low of $18.04 and a 12 month high of $65.61. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The stock has a fifty day simple moving average of $51.07 and a two-hundred day simple moving average of $55.59.

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.