Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $62.12 and traded as high as $62.32. Grayscale Bitcoin Trust ETF shares last traded at $62.32, with a volume of 1,127,093 shares trading hands.
Grayscale Bitcoin Trust ETF Stock Performance
The firm has a 50 day moving average of $62.56 and a 200-day moving average of $57.02. The stock has a market capitalization of $12.09 billion, a PE ratio of 2.23 and a beta of 2.19.
Institutional Trading of Grayscale Bitcoin Trust ETF
Institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in Grayscale Bitcoin Trust ETF during the third quarter worth approximately $31,000. Hollencrest Capital Management boosted its holdings in shares of Grayscale Bitcoin Trust ETF by 480.8% during the first quarter. Hollencrest Capital Management now owns 726 shares of the company’s stock worth $38,000 after acquiring an additional 601 shares during the period. CX Institutional acquired a new position in shares of Grayscale Bitcoin Trust ETF in the third quarter valued at approximately $105,000. Compass Financial Management LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF in the second quarter valued at approximately $114,000. Finally, Smallwood Wealth Investment Management LLC grew its position in shares of Grayscale Bitcoin Trust ETF by 284.6% in the second quarter. Smallwood Wealth Investment Management LLC now owns 3,854 shares of the company’s stock valued at $175,000 after purchasing an additional 2,852 shares during the last quarter.
About Grayscale Bitcoin Trust ETF
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.
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