Wealthfront Advisers LLC Lowers Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Wealthfront Advisers LLC reduced its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 99.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,117 shares of the company’s stock after selling 502,193 shares during the quarter. Wealthfront Advisers LLC’s holdings in Grayscale Bitcoin Trust were worth $220,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Synergy Investment Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth about $30,000. Activest Wealth Management boosted its stake in shares of Grayscale Bitcoin Trust by 53.0% during the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after acquiring an additional 140 shares in the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of Grayscale Bitcoin Trust by 310.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after acquiring an additional 310 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Grayscale Bitcoin Trust during the 4th quarter worth about $36,000. Finally, Bear Mountain Capital Inc. raised its position in shares of Grayscale Bitcoin Trust by 162.5% during the 4th quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock worth $43,000 after purchasing an additional 325 shares during the last quarter.

Grayscale Bitcoin Trust Stock Down 0.2 %

GBTC opened at $66.81 on Tuesday. Grayscale Bitcoin Trust has a twelve month low of $39.56 and a twelve month high of $86.11. The company has a 50-day moving average price of $74.94 and a 200 day moving average price of $66.80. The company has a market cap of $16.53 billion, a PE ratio of 2.23 and a beta of 2.59.

Grayscale Bitcoin Trust Company 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.