Fagan Associates Inc. Sells 16,567 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Fagan Associates Inc. decreased its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 27.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,508 shares of the company’s stock after selling 16,567 shares during the quarter. Fagan Associates Inc.’s holdings in Grayscale Bitcoin Trust were worth $3,294,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CWM LLC grew its stake in shares of Grayscale Bitcoin Trust by 255.3% in the third quarter. CWM LLC now owns 2,782 shares of the company’s stock worth $140,000 after acquiring an additional 1,999 shares during the last quarter. Creative Planning grew its stake in shares of Grayscale Bitcoin Trust by 0.6% in the third quarter. Creative Planning now owns 83,315 shares of the company’s stock worth $4,207,000 after acquiring an additional 458 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Grayscale Bitcoin Trust by 1.6% in the third quarter. Foundations Investment Advisors LLC now owns 114,446 shares of the company’s stock worth $5,780,000 after acquiring an additional 1,815 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Grayscale Bitcoin Trust by 2.9% in the third quarter. Sequoia Financial Advisors LLC now owns 180,068 shares of the company’s stock worth $9,093,000 after acquiring an additional 5,120 shares during the last quarter. Finally, Mad River Investors grew its stake in shares of Grayscale Bitcoin Trust by 26.7% in the third quarter. Mad River Investors now owns 389,745 shares of the company’s stock worth $19,682,000 after acquiring an additional 82,187 shares during the last quarter.

Grayscale Bitcoin Trust Price Performance

GBTC opened at $74.48 on Wednesday. Grayscale Bitcoin Trust has a fifty-two week low of $39.56 and a fifty-two week high of $86.11. The firm’s fifty day moving average price is $78.41 and its two-hundred day moving average price is $63.73. The company has a market capitalization of $18.83 billion, a P/E ratio of 2.23 and a beta of 2.51.

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.