Parallel Advisors LLC Decreases Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Parallel Advisors LLC decreased its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,173 shares of the company’s stock after selling 181 shares during the quarter. Parallel Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $383,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GBTC. Armstrong Advisory Group Inc. grew its holdings in Grayscale Bitcoin Trust by 310.0% in the fourth 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. Activest Wealth Management grew 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 valued at $30,000 after acquiring an additional 140 shares during the last quarter. Synergy Investment Management LLC purchased a new position in Grayscale Bitcoin Trust during the 4th quarter valued at about $30,000. Cullen Frost Bankers Inc. acquired a new position in Grayscale Bitcoin Trust during the fourth quarter worth about $36,000. Finally, Bear Mountain Capital Inc. raised its position in Grayscale Bitcoin Trust by 162.5% during the fourth quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock worth $43,000 after acquiring an additional 325 shares during the last quarter.

Grayscale Bitcoin Trust Price Performance

GBTC stock opened at $66.32 on Friday. The company’s 50 day simple moving average is $74.24 and its 200-day simple moving average is $67.06. Grayscale Bitcoin Trust has a 12 month low of $39.56 and a 12 month high of $86.11. The firm has a market capitalization of $16.41 billion, a PE ratio of 2.23 and a beta of 2.59.

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.