Transcend Capital Advisors LLC Sells 13,794 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Transcend Capital Advisors LLC decreased its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 54.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,739 shares of the company’s stock after selling 13,794 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in Grayscale Bitcoin Trust by 4,950.0% in the 3rd quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock valued at $97,670,000 after purchasing an additional 189,585 shares during the period. Allworth Financial LP lifted its stake in shares of Grayscale Bitcoin Trust by 300.8% in the third quarter. Allworth Financial LP now owns 17,521 shares of the company’s stock valued at $885,000 after buying an additional 13,149 shares during the period. PFG Investments LLC lifted its stake in shares of Grayscale Bitcoin Trust by 60.1% in the third quarter. PFG Investments LLC now owns 12,806 shares of the company’s stock valued at $647,000 after buying an additional 4,806 shares during the period. Consolidated Portfolio Review Corp lifted its stake in shares of Grayscale Bitcoin Trust by 18.6% in the third quarter. Consolidated Portfolio Review Corp now owns 21,487 shares of the company’s stock valued at $1,085,000 after buying an additional 3,376 shares during the period. Finally, Integrated Advisors Network LLC lifted its stake in shares of Grayscale Bitcoin Trust by 3.0% in the third quarter. Integrated Advisors Network LLC now owns 27,721 shares of the company’s stock valued at $1,400,000 after buying an additional 800 shares during the period.

Grayscale Bitcoin Trust Trading Down 3.8 %

Shares of GBTC stock opened at $75.06 on Friday. The stock has a 50 day moving average of $78.14 and a two-hundred day moving average of $64.31. 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 $18.97 billion, a P/E ratio of 2.23 and a beta of 2.51.

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.