Summit Asset Management LLC Buys Shares of 2,725 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Summit Asset Management LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,725 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently added to or reduced their stakes in GBTC. International Assets Investment Management LLC lifted its stake in Grayscale Bitcoin Trust by 4,950.0% in the third quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock valued at $97,670,000 after acquiring an additional 189,585 shares during the last quarter. Allworth Financial LP lifted its stake in 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 acquiring an additional 13,149 shares during the last quarter. PFG Investments LLC lifted its stake in 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 acquiring an additional 4,806 shares during the last quarter. Consolidated Portfolio Review Corp lifted its stake in 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 acquiring an additional 3,376 shares during the last quarter. 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 worth $1,400,000 after buying an additional 800 shares during the last quarter.

Grayscale Bitcoin Trust Trading Down 3.8 %

Shares of Grayscale Bitcoin Trust stock opened at $75.06 on Friday. The firm has a fifty day simple moving average of $78.14 and a 200-day simple moving average of $64.31. Grayscale Bitcoin Trust has a 1-year low of $39.56 and a 1-year high of $86.11. The stock has a market capitalization of $18.97 billion, a price-to-earnings 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.