Cornerstone Wealth Group LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Cornerstone Wealth Group LLC bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 4th quarter, Holdings Channel reports. The fund bought 3,841 shares of the company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBTC. Armstrong Advisory Group Inc. lifted its stake in shares of Grayscale Bitcoin Trust by 310.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after purchasing an additional 310 shares during the period. West Oak Capital LLC lifted its position in Grayscale Bitcoin Trust by 100.0% during the third quarter. West Oak Capital LLC now owns 640 shares of the company’s stock valued at $32,000 after buying an additional 320 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 3rd quarter valued at $46,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 3rd quarter worth about $50,000. Finally, Icon Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Trust during the 3rd quarter valued at about $53,000.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC opened at $80.25 on Tuesday. Grayscale Bitcoin Trust has a fifty-two week low of $37.31 and a fifty-two week high of $86.11. The firm’s 50-day simple moving average is $77.79 and its two-hundred day simple moving average is $61.23. The stock has a market cap of $40.98 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.