Sanctuary Advisors LLC Grows Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sanctuary Advisors LLC grew its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 16.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,588 shares of the company’s stock after purchasing an additional 5,524 shares during the quarter. Sanctuary Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $1,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its stake in Grayscale Bitcoin Trust by 2.3% during the third quarter. Bleakley Financial Group LLC now owns 60,389 shares of the company’s stock valued at $3,050,000 after buying an additional 1,349 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Grayscale Bitcoin Trust during the 3rd quarter valued at approximately $46,000. Private Advisor Group LLC grew its holdings in shares of Grayscale Bitcoin Trust by 46.4% in the second quarter. Private Advisor Group LLC now owns 32,295 shares of the company’s stock valued at $1,720,000 after purchasing an additional 10,243 shares in the last quarter. Sound Income Strategies LLC increased its position in Grayscale Bitcoin Trust by 6.3% in the third quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock worth $235,000 after purchasing an additional 276 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in Grayscale Bitcoin Trust by 5.2% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 6,842 shares of the company’s stock valued at $346,000 after purchasing an additional 340 shares in the last quarter.

Grayscale Bitcoin Trust Stock Down 5.8 %

Shares of NYSEARCA:GBTC opened at $79.81 on Thursday. The firm has a fifty day simple moving average of $66.96 and a two-hundred day simple moving average of $57.22. Grayscale Bitcoin Trust has a 52 week low of $33.95 and a 52 week high of $86.11. The stock has a market capitalization of $40.76 billion, a P/E 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.