Thrivent Financial for Lutherans Lowers Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Thrivent Financial for Lutherans decreased its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 42.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,198 shares of the company’s stock after selling 3,064 shares during the period. Thrivent Financial for Lutherans’ holdings in Grayscale Bitcoin Trust were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GBTC. Proficio Capital Partners LLC boosted its stake in shares of Grayscale Bitcoin Trust by 4,462.7% in the fourth quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock worth $155,735,000 after acquiring an additional 2,057,850 shares during the period. Strategic Financial Concepts LLC bought a new position in Grayscale Bitcoin Trust in the 4th quarter worth approximately $19,360,000. Foundations Investment Advisors LLC grew its holdings in Grayscale Bitcoin Trust by 25.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 143,835 shares of the company’s stock valued at $10,647,000 after buying an additional 29,389 shares in the last quarter. SLT Holdings LLC bought a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at approximately $10,203,000. Finally, Brookstone Capital Management lifted its holdings in shares of Grayscale Bitcoin Trust by 1.3% in the fourth quarter. Brookstone Capital Management now owns 128,233 shares of the company’s stock worth $9,492,000 after buying an additional 1,612 shares in the last quarter.

Grayscale Bitcoin Trust Stock Performance

Shares of NYSEARCA GBTC opened at $66.32 on Friday. The company has a market cap of $16.26 billion, a P/E ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a 52-week low of $39.56 and a 52-week high of $86.11. The firm’s fifty day moving average is $71.60 and its two-hundred day moving average is $68.57.

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.