Sloy Dahl & Holst LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sloy Dahl & Holst LLC acquired a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 521,747 shares of the company’s stock, valued at approximately $32,959,000. Grayscale Bitcoin Trust accounts for about 7.8% of Sloy Dahl & Holst LLC’s portfolio, making the stock its 3rd largest position.

Several other hedge funds have also added to or reduced their stakes in GBTC. Dixon Mitchell Investment Counsel Inc. bought a new stake in Grayscale Bitcoin Trust in the first quarter worth about $27,000. Toth Financial Advisory Corp purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth about $28,000. Atticus Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth about $33,000. Harbor Investment Advisory LLC purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth about $34,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth about $45,000.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC traded down $1.19 during trading hours on Wednesday, hitting $53.70. The company’s stock had a trading volume of 385,383 shares, compared to its average volume of 12,620,368. The company has a market cap of $27.43 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The business has a 50 day simple moving average of $57.86 and a two-hundred day simple moving average of $51.73. Grayscale Bitcoin Trust has a 52-week low of $17.00 and a 52-week high of $65.61.

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.