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

Avantax Advisory Services Inc. increased its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 5.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,881 shares of the company’s stock after buying an additional 849 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Grayscale Bitcoin Trust were worth $1,324,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GBTC. Prospera Financial Services Inc boosted its stake in Grayscale Bitcoin Trust by 26.7% during the 3rd quarter. Prospera Financial Services Inc now owns 7,835 shares of the company’s stock valued at $396,000 after acquiring an additional 1,650 shares during the last quarter. FWG Holdings LLC boosted its stake in Grayscale Bitcoin Trust by 4.2% during the 3rd quarter. FWG Holdings LLC now owns 9,177 shares of the company’s stock valued at $508,000 after acquiring an additional 370 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Grayscale Bitcoin Trust by 0.4% during the 3rd quarter. Moors & Cabot Inc. now owns 368,975 shares of the company’s stock valued at $18,633,000 after acquiring an additional 1,305 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in Grayscale Bitcoin Trust during the 3rd quarter valued at $53,000. Finally, Meridian Wealth Management LLC bought a new position in Grayscale Bitcoin Trust during the 3rd quarter valued at $1,177,000.

Grayscale Bitcoin Trust Price Performance

NYSEARCA GBTC opened at $65.08 on Wednesday. Grayscale Bitcoin Trust has a 12 month low of $39.56 and a 12 month high of $86.11. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. The company’s fifty day moving average price is $74.71 and its two-hundred day moving average price is $66.93.

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.