Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 907,626 shares, a drop of 33.1% from the March 15th total of 1,356,294 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,514,132 shares, the days-to-cover ratio is currently 0.3 days.
Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF
A number of hedge funds have recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC bought a new position in Grayscale Bitcoin Trust ETF during the 4th quarter valued at about $27,000. Holos Integrated Wealth LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter worth approximately $28,000. Root Financial Partners LLC bought a new position in shares of Grayscale Bitcoin Trust ETF in the third quarter valued at approximately $29,000. CoreCap Advisors LLC raised its stake in shares of Grayscale Bitcoin Trust ETF by 160.9% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF in the 4th quarter worth approximately $30,000.
Grayscale Bitcoin Trust ETF Stock Up 1.1%
NYSEARCA:GBTC traded up $0.62 during trading hours on Tuesday, reaching $57.71. The company had a trading volume of 3,022,620 shares, compared to its average volume of 4,499,861. The stock has a 50-day moving average of $54.00 and a two-hundred day moving average of $68.59. Grayscale Bitcoin Trust ETF has a one year low of $48.56 and a one year high of $99.12. The firm has a market capitalization of $13.89 billion, a PE ratio of 2.23 and a beta of 2.24.
About Grayscale Bitcoin Trust ETF
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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