Paragon Financial Partners Inc. Takes Position in Grayscale Bitcoin Trust ETF $GBTC

Paragon Financial Partners Inc. acquired a new stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the second quarter, HoldingsChannel reports. The firm acquired 2,710 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds have also made changes to their positions in the business. Global Assets Advisory LLC grew its stake in Grayscale Bitcoin Trust ETF by 202.9% during the 1st quarter. Global Assets Advisory LLC now owns 20,678 shares of the company’s stock worth $1,329,000 after buying an additional 13,852 shares during the last quarter. Golden State Equity Partners grew its stake in Grayscale Bitcoin Trust ETF by 7.7% during the 1st quarter. Golden State Equity Partners now owns 9,278 shares of the company’s stock worth $605,000 after buying an additional 667 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Grayscale Bitcoin Trust ETF by 90.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,360 shares of the company’s stock worth $154,000 after buying an additional 1,120 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Grayscale Bitcoin Trust ETF by 8.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 125,277 shares of the company’s stock worth $8,164,000 after buying an additional 9,230 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its position in Grayscale Bitcoin Trust ETF by 3.6% during the 1st quarter. Transcend Capital Advisors LLC now owns 12,164 shares of the company’s stock worth $793,000 after acquiring an additional 425 shares during the period.

Grayscale Bitcoin Trust ETF Trading Down 3.6%

Grayscale Bitcoin Trust ETF stock opened at $84.50 on Thursday. Grayscale Bitcoin Trust ETF has a twelve month low of $51.83 and a twelve month high of $99.12. The stock has a 50 day moving average of $89.51 and a two-hundred day moving average of $84.82. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 2.23 and a beta of 2.47.

Grayscale Bitcoin Trust ETF 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.