Cornerstone Wealth Group LLC acquired a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,364 shares of the company’s stock, valued at approximately $276,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Optimum Investment Advisors acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter valued at $95,000. Opal Wealth Advisors LLC acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter valued at $262,000. Brookstone Capital Management acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter valued at $8,435,000. AdvisorNet Financial Inc acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter valued at $261,000. Finally, Able Wealth Management LLC acquired a new position in shares of Grayscale Bitcoin Trust during the fourth quarter valued at $194,000.
Grayscale Bitcoin Trust Trading Down 2.3 %
Shares of GBTC traded down $1.28 during trading hours on Friday, hitting $53.24. 3,860,291 shares of the stock traded hands, compared to its average volume of 12,870,373. The business has a fifty day moving average of $58.01 and a 200-day moving average of $51.41. The firm has a market capitalization of $27.19 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1-year low of $17.00 and a 1-year high of $65.61.
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.
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