E&G Advisors LP Invests $256,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

E&G Advisors LP acquired a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,050 shares of the company’s stock, valued at approximately $256,000.

A number of other institutional investors also recently bought and sold shares of GBTC. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $27,000. Toth Financial Advisory Corp acquired a new position in Grayscale Bitcoin Trust during the first quarter valued at $28,000. Atticus Wealth Management LLC purchased a new stake in Grayscale Bitcoin Trust in the first quarter valued at $33,000. Harbor Investment Advisory LLC acquired a new stake in Grayscale Bitcoin Trust during the 1st quarter worth about $34,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $45,000.

Grayscale Bitcoin Trust Stock Down 2.3 %

Shares of GBTC stock traded down $1.24 on Wednesday, hitting $53.65. The company had a trading volume of 1,742,143 shares, compared to its average volume of 12,631,063. Grayscale Bitcoin Trust has a twelve month low of $17.00 and a twelve month high of $65.61. The firm has a market cap of $27.40 billion, a P/E ratio of 2.29 and a beta of 1.25. The company has a 50-day moving average price of $57.80 and a 200-day moving average price of $51.82.

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.