Diversified Management Inc. Takes $765,000 Position in Grayscale Bitcoin Trust ETF $GBTC

Diversified Management Inc. bought a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 11,193 shares of the company’s stock, valued at approximately $765,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Roman Butler Fullerton & Co. bought a new position in Grayscale Bitcoin Trust ETF during the fourth quarter valued at about $380,000. BCS Wealth Management raised its position in Grayscale Bitcoin Trust ETF by 100.0% in the fourth quarter. BCS Wealth Management now owns 7,514 shares of the company’s stock worth $514,000 after acquiring an additional 3,757 shares during the period. Farther Finance Advisors LLC raised its position in Grayscale Bitcoin Trust ETF by 1.7% in the fourth quarter. Farther Finance Advisors LLC now owns 72,070 shares of the company’s stock worth $4,927,000 after acquiring an additional 1,190 shares during the period. Transcend Capital Advisors LLC boosted its stake in Grayscale Bitcoin Trust ETF by 15.3% in the fourth quarter. Transcend Capital Advisors LLC now owns 12,739 shares of the company’s stock valued at $871,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Valley National Advisers Inc. grew its position in shares of Grayscale Bitcoin Trust ETF by 25.2% during the 4th quarter. Valley National Advisers Inc. now owns 1,823 shares of the company’s stock valued at $124,000 after acquiring an additional 367 shares during the period.

Grayscale Bitcoin Trust ETF Stock Up 1.0%

Shares of GBTC stock opened at $58.37 on Thursday. The company has a 50 day moving average of $53.98 and a 200-day moving average of $68.33. Grayscale Bitcoin Trust ETF has a 12-month low of $48.56 and a 12-month high of $99.12. The firm has a market cap of $14.05 billion, a P/E ratio of 2.23 and a beta of 2.24.

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.