Summit Asset Management LLC Invests $202,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Summit Asset Management LLC acquired a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,725 shares of the company’s stock, valued at approximately $202,000.

Other large investors have also recently bought and sold shares of the company. Activest Wealth Management raised its stake 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 last quarter. Armstrong Advisory Group Inc. raised its stake in Grayscale Bitcoin Trust by 310.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after purchasing an additional 310 shares during the last quarter. Bear Mountain Capital Inc. raised its stake in Grayscale Bitcoin Trust by 162.5% during the 4th quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock valued at $43,000 after purchasing an additional 325 shares during the last quarter. Financial Life Planners acquired a new position in Grayscale Bitcoin Trust during the 4th quarter valued at $61,000. Finally, West Oak Capital LLC raised its stake in Grayscale Bitcoin Trust by 53.1% during the 4th quarter. West Oak Capital LLC now owns 980 shares of the company’s stock valued at $73,000 after purchasing an additional 340 shares during the last quarter.

Grayscale Bitcoin Trust Price Performance

Shares of Grayscale Bitcoin Trust stock opened at $75.06 on Friday. The firm has a market capitalization of $18.97 billion, a PE ratio of 2.23 and a beta of 2.51. The company’s fifty day moving average price is $78.14 and its two-hundred day moving average price is $64.31. Grayscale Bitcoin Trust has a 52-week low of $39.56 and a 52-week high of $86.11.

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.