Nicholas Hoffman & Company LLC. bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,467 shares of the company’s stock, valued at approximately $282,000.
Other hedge funds have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $27,000. Toth Financial Advisory Corp purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $28,000. Atticus Wealth Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $33,000. Harbor Investment Advisory LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $34,000. Finally, Valley National Advisers Inc. purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $34,000.
Grayscale Bitcoin Trust Stock Performance
Shares of GBTC stock traded down $3.59 during trading hours on Tuesday, reaching $52.47. The company had a trading volume of 11,982,859 shares, compared to its average volume of 16,614,021. The stock has a fifty day moving average of $58.20 and a 200-day moving average of $43.99. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 2.72 and a beta of 0.92. Grayscale Bitcoin Trust has a 12-month low of $12.86 and a 12-month high of $65.61.
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.
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