Fifth Third Bancorp boosted its stake in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Free Report) by 38,972.0% during the first quarter, Holdings Channel.com reports. The fund owned 39,072 shares of the company’s stock after acquiring an additional 38,972 shares during the period. Fifth Third Bancorp’s holdings in Grayscale Bitcoin Trust ETF were worth $2,061,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Garton & Associates Financial Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF during the 4th quarter valued at $27,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Grayscale Bitcoin Trust ETF in the fourth quarter worth $30,000. CoreCap Advisors LLC increased its position 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 worth $30,000 after purchasing an additional 272 shares during the period. RHL Group LLC acquired a new position in Grayscale Bitcoin Trust ETF in the fourth quarter valued at about $43,000. Finally, Triumph Capital Management acquired a new position in Grayscale Bitcoin Trust ETF in the third quarter valued at about $66,000.
Grayscale Bitcoin Trust ETF Stock Down 0.8%
GBTC opened at $51.08 on Thursday. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 2.23 and a beta of 2.19. Grayscale Bitcoin Trust ETF has a twelve month low of $44.98 and a twelve month high of $99.12. The company has a 50-day simple moving average of $51.59 and a 200 day simple moving average of $56.65.
Grayscale Bitcoin Trust ETF Company 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 ETF (NYSEARCA:GBTC – Free Report).
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