Sequoia Financial Advisors LLC Sells 64,021 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sequoia Financial Advisors LLC decreased its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 35.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 116,047 shares of the company’s stock after selling 64,021 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $8,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC grew its stake in shares of Grayscale Bitcoin Trust by 0.9% during the 4th quarter. Rothschild Investment LLC now owns 14,490 shares of the company’s stock worth $1,073,000 after acquiring an additional 130 shares during the period. Activest Wealth Management boosted its stake in Grayscale Bitcoin Trust by 53.0% in the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after purchasing an additional 140 shares during the period. Mutual Advisors LLC boosted its stake in Grayscale Bitcoin Trust by 2.0% in the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock worth $583,000 after purchasing an additional 146 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in Grayscale Bitcoin Trust by 1.0% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 16,906 shares of the company’s stock worth $1,251,000 after purchasing an additional 165 shares during the period. Finally, Synovus Financial Corp boosted its stake in Grayscale Bitcoin Trust by 0.8% in the 3rd quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after purchasing an additional 169 shares during the period.

Grayscale Bitcoin Trust Stock Down 0.2 %

Shares of NYSEARCA GBTC opened at $65.57 on Thursday. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The business has a 50-day simple moving average of $75.72 and a two-hundred day simple moving average of $66.31. The company has a market cap of $16.22 billion, a P/E ratio of 2.23 and a beta of 2.59.

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.