Able Wealth Management LLC Lowers Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Able Wealth Management LLC cut its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 32.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,774 shares of the company’s stock after selling 1,839 shares during the period. Able Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GBTC. Armstrong Advisory Group Inc. raised its position in Grayscale Bitcoin Trust by 310.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after purchasing an additional 310 shares during the period. Activest Wealth Management increased its holdings in Grayscale Bitcoin Trust by 53.0% during the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after purchasing an additional 140 shares during the period. Icon Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Trust during the 3rd quarter valued at about $53,000. Safe Harbor Fiduciary LLC purchased a new stake in Grayscale Bitcoin Trust in the 3rd quarter worth approximately $56,000. Finally, Hollencrest Capital Management lifted its holdings in Grayscale Bitcoin Trust by 40.6% in the 3rd quarter. Hollencrest Capital Management now owns 1,195 shares of the company’s stock worth $60,000 after buying an additional 345 shares during the period.

Grayscale Bitcoin Trust Stock Performance

GBTC opened at $76.08 on Thursday. The stock’s 50 day moving average price is $78.28 and its 200-day moving average price is $63.99. Grayscale Bitcoin Trust has a 52-week low of $39.56 and a 52-week high of $86.11. The stock has a market capitalization of $19.23 billion, a PE ratio of 2.23 and a beta of 2.51.

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.