Moors & Cabot Inc. boosted its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 368,975 shares of the company’s stock after purchasing an additional 1,305 shares during the quarter. Grayscale Bitcoin Trust comprises about 0.9% of Moors & Cabot Inc.’s holdings, making the stock its 16th biggest holding. Moors & Cabot Inc. owned 0.07% of Grayscale Bitcoin Trust worth $18,633,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in Grayscale Bitcoin Trust during the first quarter valued at $363,000. Quent Capital LLC purchased a new position in Grayscale Bitcoin Trust in the first quarter valued at about $460,000. Freestone Capital Holdings LLC purchased a new position in Grayscale Bitcoin Trust during the 1st quarter worth $225,000. EP Wealth Advisors LLC purchased a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at approximately $399,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $860,000.
Grayscale Bitcoin Trust Trading Up 2.5 %
GBTC traded up $1.81 during midday trading on Wednesday, hitting $75.39. 741,787 shares of the company were exchanged, compared to its average volume of 8,936,508. Grayscale Bitcoin Trust has a 1-year low of $29.09 and a 1-year high of $75.46. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The company’s 50 day simple moving average is $54.76 and its 200 day simple moving average is $54.34.
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.
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