Malaga Cove Capital LLC Acquires Shares of 14,914 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Malaga Cove Capital LLC bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 14,914 shares of the company’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. bought a new stake in Grayscale Bitcoin Trust in the second quarter valued at approximately $26,000. Global Wealth Strategies & Associates acquired a new stake in Grayscale Bitcoin Trust during the 2nd quarter worth $27,000. ZRC Wealth Management LLC bought a new position in Grayscale Bitcoin Trust during the second quarter worth about $29,000. Avondale Wealth Management acquired a new position in Grayscale Bitcoin Trust in the second quarter valued at about $33,000. Finally, West Oak Capital LLC increased its holdings in shares of Grayscale Bitcoin Trust by 100.0% in the third quarter. West Oak Capital LLC now owns 640 shares of the company’s stock worth $32,000 after acquiring an additional 320 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

NYSEARCA GBTC opened at $60.65 on Thursday. Grayscale Bitcoin Trust has a one year low of $26.58 and a one year high of $65.61. The firm has a market cap of $30.97 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock’s 50-day moving average is $50.55 and its 200-day moving average is $53.50.

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.