Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 3,182,660 shares, a growth of 77.6% from the August 31st total of 1,792,536 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,036,424 shares, the days-to-cover ratio is presently 1.6 days.
Grayscale Bitcoin Trust ETF Stock Performance
GBTC traded up $0.18 during midday trading on Tuesday, hitting $64.58. The stock had a trading volume of 1,232,763 shares, compared to its average volume of 2,922,376. Grayscale Bitcoin Trust ETF has a 1 year low of $44.98 and a 1 year high of $99.12. The company has a market cap of $12.53 billion, a P/E ratio of 2.23 and a beta of 2.19. The business has a fifty day moving average of $56.41 and a 200 day moving average of $55.07.
Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF
Institutional investors and hedge funds have recently bought and sold shares of the stock. Fund Advisors of America Inc FL bought a new stake in shares of Grayscale Bitcoin Trust ETF in the fourth quarter worth about $831,000. Ballast Financial Advisors LLC purchased a new stake in Grayscale Bitcoin Trust ETF in the 4th quarter worth approximately $1,310,000. OakTrust Wealth Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the 4th quarter worth approximately $1,273,000. Osbon Capital Management LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the 4th quarter worth approximately $1,879,000. Finally, Fiduciary Alliance LLC increased its stake in shares of Grayscale Bitcoin Trust ETF by 8.8% during the first quarter. Fiduciary Alliance LLC now owns 146,098 shares of the company’s stock valued at $8,528,000 after buying an additional 11,845 shares during the period.
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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