Avantax Advisory Services Inc. Raises Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Avantax Advisory Services Inc. increased its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,881 shares of the company’s stock after buying an additional 849 shares during the period. Avantax Advisory Services Inc.’s holdings in Grayscale Bitcoin Trust were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GBTC. Proficio Capital Partners LLC boosted its holdings in Grayscale Bitcoin Trust by 4,462.7% during the fourth quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock worth $155,735,000 after buying an additional 2,057,850 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Grayscale Bitcoin Trust during the fourth quarter worth about $19,360,000. SLT Holdings LLC purchased a new stake in Grayscale Bitcoin Trust during the fourth quarter worth about $10,203,000. Citrine Capital LLC purchased a new stake in Grayscale Bitcoin Trust during the fourth quarter worth about $7,721,000. Finally, Variant Private Wealth LLC purchased a new stake in Grayscale Bitcoin Trust during the fourth quarter worth about $7,113,000.

Grayscale Bitcoin Trust Trading Down 2.6 %

GBTC stock opened at $65.08 on Wednesday. The company has a market cap of $16.10 billion, a P/E ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The company’s 50-day moving average price is $74.71 and its 200 day moving average price is $66.93.

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.