EverSource Wealth Advisors LLC Cuts Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

EverSource Wealth Advisors LLC lessened its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 52.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,840 shares of the company’s stock after selling 2,000 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. raised its holdings in Grayscale Bitcoin Trust by 310.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after acquiring an additional 310 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Grayscale Bitcoin Trust by 53.0% in the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after purchasing an additional 140 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Grayscale Bitcoin Trust during the fourth quarter worth $36,000. Finally, Bear Mountain Capital Inc. increased its holdings 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 buying an additional 325 shares during the last quarter.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA GBTC opened at $66.81 on Tuesday. The business has a 50-day moving average of $74.94 and a two-hundred day moving average of $66.80. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11.

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.