PBMares Wealth Management LLC Sells 332 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

PBMares Wealth Management LLC lowered its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,383 shares of the company’s stock after selling 332 shares during the period. PBMares Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in Grayscale Bitcoin Trust in the first quarter valued at approximately $27,000. Hollencrest Capital Management bought a new stake in Grayscale Bitcoin Trust in the first quarter valued at about $28,000. DHJJ Financial Advisors Ltd. bought a new stake in Grayscale Bitcoin Trust in the second quarter valued at about $26,000. Global Wealth Strategies & Associates acquired a new position in Grayscale Bitcoin Trust in the second quarter valued at about $27,000. Finally, ZRC Wealth Management LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 2nd quarter worth about $29,000.

Grayscale Bitcoin Trust Trading Up 3.3 %

Shares of GBTC stock traded up $1.83 on Tuesday, reaching $57.21. The company had a trading volume of 1,652,021 shares, compared to its average volume of 9,239,582. The company has a 50-day moving average of $49.50 and a 200-day moving average of $53.49. Grayscale Bitcoin Trust has a 12 month low of $25.70 and a 12 month high of $65.61. The stock has a market cap of $29.22 billion, a PE ratio of 2.29 and a beta of 1.25.

Grayscale Bitcoin Trust 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.