Grayscale Bitcoin Trust (NYSEARCA:GBTC – Get Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $66.95, but opened at $65.53. Grayscale Bitcoin Trust shares last traded at $65.54, with a volume of 295,208 shares trading hands.
Grayscale Bitcoin Trust Stock Performance
The stock has a market capitalization of $16.10 billion, a PE ratio of 2.23 and a beta of 2.59. The stock’s 50 day moving average is $74.71 and its two-hundred day moving average is $66.93.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC lifted its stake in Grayscale Bitcoin Trust by 4,462.7% in the 4th quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock worth $155,735,000 after purchasing an additional 2,057,850 shares in the last quarter. LPL Financial LLC lifted its stake in Grayscale Bitcoin Trust by 0.4% in the 4th quarter. LPL Financial LLC now owns 1,121,456 shares of the company’s stock worth $83,010,000 after purchasing an additional 4,728 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in Grayscale Bitcoin Trust in the 4th quarter worth approximately $34,353,000. Moors & Cabot Inc. lifted its stake in Grayscale Bitcoin Trust by 0.4% in the 3rd quarter. Moors & Cabot Inc. now owns 368,975 shares of the company’s stock worth $18,633,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Grayscale Bitcoin Trust in the 4th quarter worth approximately $19,360,000.
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.
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