Zacks Investment Management Buys Shares of 3,152 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Zacks Investment Management bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,152 shares of the company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Synergy Investment Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at $30,000. Activest Wealth Management raised its holdings in shares of Grayscale Bitcoin Trust by 53.0% during the fourth 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 position in Grayscale Bitcoin Trust by 310.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after purchasing an additional 310 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Grayscale Bitcoin Trust during the fourth quarter valued at $36,000. Finally, Bear Mountain Capital Inc. grew its stake in Grayscale Bitcoin Trust by 162.5% in the fourth quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock valued at $43,000 after purchasing an additional 325 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

GBTC opened at $67.09 on Monday. The company has a market capitalization of $16.20 billion, a PE ratio of 2.23 and a beta of 2.56. Grayscale Bitcoin Trust has a fifty-two week low of $39.56 and a fifty-two week high of $86.11. The business has a 50-day moving average of $68.18 and a 200-day moving average of $69.95.

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.