Stevens Capital Management LP Cuts Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Stevens Capital Management LP cut its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 80.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,800 shares of the company’s stock after selling 44,100 shares during the period. Stevens Capital Management LP’s holdings in Grayscale Bitcoin Trust were worth $799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its position in shares of Grayscale Bitcoin Trust by 4,462.7% during the fourth quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock valued at $155,735,000 after buying an additional 2,057,850 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Grayscale Bitcoin Trust in the 4th quarter valued at $19,360,000. SLT Holdings LLC purchased a new stake in Grayscale Bitcoin Trust in the 4th quarter worth $10,203,000. Citrine Capital LLC bought a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $7,721,000. Finally, Variant Private Wealth LLC purchased a new position in shares of Grayscale Bitcoin Trust during the fourth quarter valued at about $7,113,000.

Grayscale Bitcoin Trust Trading Down 0.3 %

NYSEARCA:GBTC opened at $66.32 on Friday. The business’s 50-day moving average is $74.24 and its 200 day moving average is $67.21. Grayscale Bitcoin Trust has a 12 month low of $39.56 and a 12 month high of $86.11. The company has a market capitalization of $16.41 billion, a P/E ratio of 2.23 and a beta of 2.59.

About Grayscale Bitcoin Trust

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.