Traynor Capital Management Inc. Reduces Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Traynor Capital Management Inc. lowered its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,552 shares of the company’s stock after selling 244 shares during the period. Traynor Capital Management Inc.’s holdings in Grayscale Bitcoin Trust were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. increased its stake in Grayscale Bitcoin Trust by 310.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after acquiring an additional 310 shares during the last quarter. West Oak Capital LLC grew its holdings in shares of Grayscale Bitcoin Trust by 100.0% during the 3rd quarter. West Oak Capital LLC now owns 640 shares of the company’s stock worth $32,000 after purchasing an additional 320 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 3rd quarter worth about $46,000. Future Financial Wealth Managment LLC purchased a new stake in Grayscale Bitcoin Trust in the 3rd quarter valued at about $50,000. Finally, Icon Wealth Advisors LLC acquired a new position in Grayscale Bitcoin Trust in the third quarter valued at about $53,000.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC stock opened at $82.70 on Thursday. The company has a 50-day moving average of $77.10 and a two-hundred day moving average of $60.56. The firm has a market cap of $42.24 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1-year low of $34.31 and a 1-year high of $86.11.

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.