Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Investment Research & Advisory Group Inc.

Investment Research & Advisory Group Inc. reduced its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 80.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368 shares of the company’s stock after selling 1,480 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Grayscale Bitcoin Trust were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mutual Advisors LLC raised its position 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 last quarter. Synovus Financial Corp raised its holdings in shares of Grayscale Bitcoin Trust by 0.8% in the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after acquiring an additional 169 shares during the last quarter. Flagstar Advisors Inc. lifted its position in shares of Grayscale Bitcoin Trust by 2.7% in the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock valued at $377,000 after acquiring an additional 196 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Grayscale Bitcoin Trust by 5.5% during the fourth quarter. Cornerstone Wealth Management LLC now owns 4,324 shares of the company’s stock valued at $320,000 after acquiring an additional 224 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in Grayscale Bitcoin Trust by 6.3% during the 3rd quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock worth $235,000 after purchasing an additional 276 shares in the last quarter.

Grayscale Bitcoin Trust Trading Up 1.6 %

NYSEARCA:GBTC opened at $83.17 on Friday. The firm has a market cap of $42.48 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12-month low of $35.24 and a 12-month high of $86.11. The company’s 50-day moving average is $77.79 and its two-hundred day moving average is $61.16.

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.