Financial Management Professionals Inc. Invests $2.27 Million in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Financial Management Professionals Inc. bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,929 shares of the company’s stock, valued at approximately $2,270,000.

Other hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $34,000. PFS Partners LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $50,000. Future Financial Wealth Managment LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $63,000. Roble Belko & Company Inc acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $65,000. Finally, Optimum Investment Advisors acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $95,000.

Grayscale Bitcoin Trust Trading Down 2.3 %

Shares of GBTC opened at $53.24 on Friday. The stock has a 50 day simple moving average of $58.01 and a 200-day simple moving average of $51.41. Grayscale Bitcoin Trust has a 1 year low of $17.00 and a 1 year high of $65.61. The stock has a market cap of $27.19 billion, a PE ratio of 2.29 and a beta of 1.25.

Grayscale Bitcoin Trust 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.