Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Focus Partners Wealth

Focus Partners Wealth reduced its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 66.8% during the 4th quarter, Holdings Channel reports. The fund owned 241,787 shares of the company’s stock after selling 486,254 shares during the period. Focus Partners Wealth’s holdings in Grayscale Bitcoin Trust were worth $17,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Synergy Investment Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter worth about $30,000. Activest Wealth Management increased its stake in Grayscale Bitcoin Trust by 53.0% in the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after purchasing an additional 140 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in Grayscale Bitcoin Trust by 310.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after purchasing an additional 310 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Grayscale Bitcoin Trust in the fourth quarter valued at $36,000. Finally, Bear Mountain Capital Inc. increased its stake in Grayscale Bitcoin Trust by 162.5% in the fourth quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock valued at $43,000 after purchasing an additional 325 shares during the last quarter.

Grayscale Bitcoin Trust Trading Up 1.9%

Grayscale Bitcoin Trust stock opened at $81.47 on Monday. The firm has a market capitalization of $19.66 billion, a P/E ratio of 2.23 and a beta of 2.51. The stock has a fifty day moving average price of $68.93 and a 200 day moving average price of $72.40. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11.

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.