Empower Advisory Group LLC lowered its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,572 shares of the company’s stock after selling 471 shares during the quarter. Empower Advisory Group LLC’s holdings in Grayscale Bitcoin Trust were worth $887,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. DHJJ Financial Advisors Ltd. acquired a new position in shares of Grayscale Bitcoin Trust during the second quarter valued at about $26,000. Global Wealth Strategies & Associates acquired a new position in Grayscale Bitcoin Trust during the second quarter worth $27,000. ZRC Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Trust in the second quarter valued at $29,000. West Oak Capital LLC boosted its stake in Grayscale Bitcoin Trust by 100.0% during the 3rd quarter. West Oak Capital LLC now owns 640 shares of the company’s stock valued at $32,000 after purchasing an additional 320 shares during the last quarter. Finally, Avondale Wealth Management purchased a new stake in shares of Grayscale Bitcoin Trust in the second quarter worth approximately $33,000.
Grayscale Bitcoin Trust Stock Down 2.5 %
Shares of NYSEARCA:GBTC opened at $69.50 on Friday. The business’s 50 day moving average is $52.56 and its 200 day moving average is $53.81. Grayscale Bitcoin Trust has a 12-month low of $28.00 and a 12-month high of $74.36. The stock has a market cap of $35.49 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.
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.
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Want to see what other hedge funds are holding GBTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report).
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