HBW Advisory Services LLC Invests $384,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

HBW Advisory Services LLC bought a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,193 shares of the company’s stock, valued at approximately $384,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Advance Capital Management Inc. purchased a new position in Grayscale Bitcoin Trust in the fourth quarter valued at approximately $227,000. Fortem Financial Group LLC grew its position in shares of Grayscale Bitcoin Trust by 2.0% in the 4th quarter. Fortem Financial Group LLC now owns 25,250 shares of the company’s stock valued at $1,869,000 after buying an additional 500 shares during the last quarter. Modus Advisors LLC acquired a new stake in Grayscale Bitcoin Trust during the 4th quarter worth $255,000. Synovus Financial Corp lifted its position in Grayscale Bitcoin Trust by 0.8% in the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock valued at $1,058,000 after acquiring an additional 169 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Grayscale Bitcoin Trust by 233.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 22,630 shares of the company’s stock valued at $1,143,000 after acquiring an additional 15,850 shares in the last quarter.

Grayscale Bitcoin Trust Stock Performance

GBTC opened at $75.08 on Friday. Grayscale Bitcoin Trust has a one year low of $34.31 and a one year high of $86.11. The stock has a market capitalization of $38.34 billion, a P/E ratio of 2.29 and a beta of 1.25. The business’s 50-day simple moving average is $74.55 and its 200-day simple moving average is $59.20.

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.