Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Up – Here’s What Happened

Grayscale Bitcoin Trust (NYSEARCA:GBTC) gapped up before the market opened on Monday . The stock had previously closed at $66.61, but opened at $73.72. Grayscale Bitcoin Trust shares last traded at $71.82, with a volume of 1,506,785 shares.

Grayscale Bitcoin Trust Price Performance

The stock’s 50-day moving average is $76.67 and its 200 day moving average is $65.63. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 2.23 and a beta of 2.51.

Institutional Trading of Grayscale Bitcoin Trust

Hedge funds have recently modified their holdings of the business. Armstrong Advisory Group Inc. grew its position in Grayscale Bitcoin Trust by 310.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after buying an additional 310 shares during the period. Activest Wealth Management grew its holdings in shares of Grayscale Bitcoin Trust by 53.0% in the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after acquiring an additional 140 shares during the period. Synergy Investment Management LLC purchased a new position in Grayscale Bitcoin Trust in the 4th quarter valued at approximately $30,000. Pacific Center for Financial Services acquired a new position in Grayscale Bitcoin Trust during the fourth quarter worth $31,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in Grayscale Bitcoin Trust in the fourth quarter valued at $32,000.

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.