IAM Advisory LLC Invests $201,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

IAM Advisory LLC purchased a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,773 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GBTC. Canton Hathaway LLC purchased a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $942,000. SVB Wealth LLC bought a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $770,000. Kathleen S. Wright Associates Inc. bought a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $59,000. Carret Asset Management LLC bought a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $256,000. Finally, Tradition Wealth Management LLC bought a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $597,000.

Grayscale Bitcoin Trust Trading Up 2.1 %

Grayscale Bitcoin Trust stock traded up $0.98 during mid-day trading on Friday, hitting $48.41. The company had a trading volume of 5,503,267 shares, compared to its average volume of 11,390,544. The stock’s 50 day moving average price is $55.31 and its two-hundred day moving average price is $54.82. Grayscale Bitcoin Trust has a 12 month low of $17.00 and a 12 month high of $65.61. The company has a market capitalization of $24.72 billion, a PE ratio of 2.29 and a beta of 1.25.

Grayscale Bitcoin Trust 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.