United Asset Strategies Inc. Has $233,000 Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

United Asset Strategies Inc. lessened its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,618 shares of the company’s stock after selling 988 shares during the quarter. United Asset Strategies Inc.’s holdings in Grayscale Bitcoin Trust were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SteelPeak Wealth LLC boosted its position in shares of Grayscale Bitcoin Trust by 30.9% during the 3rd quarter. SteelPeak Wealth LLC now owns 5,140 shares of the company’s stock worth $260,000 after purchasing an additional 1,213 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Grayscale Bitcoin Trust in the 3rd quarter valued at about $147,000. Integrated Advisors Network LLC lifted its position in Grayscale Bitcoin Trust by 3.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,721 shares of the company’s stock valued at $1,400,000 after acquiring an additional 800 shares in the last quarter. Consolidated Portfolio Review Corp lifted its position in Grayscale Bitcoin Trust by 18.6% in the 3rd 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 in the last quarter. Finally, PFG Investments LLC lifted its position in Grayscale Bitcoin Trust by 60.1% in the 3rd 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 in the last quarter.

Grayscale Bitcoin Trust Stock Performance

Shares of NYSEARCA GBTC opened at $55.61 on Friday. Grayscale Bitcoin Trust has a fifty-two week low of $26.13 and a fifty-two week high of $65.61. The stock has a market cap of $28.40 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The firm’s 50-day simple moving average is $50.02 and its 200 day simple moving average is $53.52.

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.