Moors & Cabot Inc. lessened its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 5.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 367,670 shares of the company’s stock after selling 19,360 shares during the quarter. Grayscale Bitcoin Trust comprises about 1.0% of Moors & Cabot Inc.’s portfolio, making the stock its 12th largest holding. Moors & Cabot Inc.’s holdings in Grayscale Bitcoin Trust were worth $19,575,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. acquired a new position in Grayscale Bitcoin Trust during the 2nd quarter worth approximately $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Grayscale Bitcoin Trust during the first quarter worth $27,000. Global Wealth Strategies & Associates purchased a new position in Grayscale Bitcoin Trust in the second quarter worth $27,000. YHB Investment Advisors Inc. acquired a new stake in Grayscale Bitcoin Trust in the first quarter valued at $28,000. Finally, Toth Financial Advisory Corp purchased a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth $28,000.
Grayscale Bitcoin Trust Stock Down 3.1 %
NYSEARCA:GBTC opened at $46.15 on Tuesday. Grayscale Bitcoin Trust has a fifty-two week low of $18.04 and a fifty-two week high of $65.61. The firm’s fifty day simple moving average is $50.05 and its 200-day simple moving average is $55.54. The stock has a market cap of $23.57 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.
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Want to see what other hedge funds are holding GBTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report).
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