Synovus Financial Corp Has $1.60 Million Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Synovus Financial Corp lifted its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,645 shares of the company’s stock after purchasing an additional 689 shares during the quarter. Synovus Financial Corp’s holdings in Grayscale Bitcoin Trust were worth $1,602,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GBTC. Sanctuary Advisors LLC lifted its stake in shares of Grayscale Bitcoin Trust by 16.7% in the third quarter. Sanctuary Advisors LLC now owns 38,588 shares of the company’s stock valued at $1,949,000 after buying an additional 5,524 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Grayscale Bitcoin Trust by 233.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 22,630 shares of the company’s stock worth $1,143,000 after acquiring an additional 15,850 shares during the last quarter. Modus Advisors LLC bought a new position in Grayscale Bitcoin Trust in the 4th quarter valued at about $255,000. Fortem Financial Group LLC boosted its stake in Grayscale Bitcoin Trust by 2.0% during the 4th quarter. Fortem Financial Group LLC now owns 25,250 shares of the company’s stock valued at $1,869,000 after purchasing an additional 500 shares during the last quarter. Finally, Advance Capital Management Inc. bought a new stake in Grayscale Bitcoin Trust during the 4th quarter worth approximately $227,000.

Grayscale Bitcoin Trust Stock Down 1.1 %

Shares of NYSEARCA:GBTC opened at $66.38 on Wednesday. The stock has a market cap of $16.03 billion, a price-to-earnings ratio of 2.23 and a beta of 2.56. The business’s 50 day moving average is $68.73 and its 200 day moving average is $69.43. Grayscale Bitcoin Trust has a 12-month low of $39.56 and a 12-month high of $86.11.

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.