Arete Wealth Advisors LLC Reduces Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Arete Wealth Advisors LLC cut its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 85.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,665 shares of the company’s stock after selling 32,009 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in shares of Grayscale Bitcoin Trust by 8.7% during the third quarter. Sunbelt Securities Inc. now owns 4,697 shares of the company’s stock valued at $237,000 after buying an additional 375 shares during the period. Executive Wealth Management LLC bought a new stake in shares of Grayscale Bitcoin Trust during the third quarter valued at about $379,000. Glass Jacobson Investment Advisors llc increased its position in shares of Grayscale Bitcoin Trust by 29.8% during the third quarter. Glass Jacobson Investment Advisors llc now owns 2,590 shares of the company’s stock valued at $131,000 after buying an additional 595 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Grayscale Bitcoin Trust during the third quarter valued at about $62,000. Finally, EP Wealth Advisors LLC increased its position in shares of Grayscale Bitcoin Trust by 74.0% during the third quarter. EP Wealth Advisors LLC now owns 13,807 shares of the company’s stock valued at $697,000 after buying an additional 5,871 shares during the period.

Grayscale Bitcoin Trust Stock Up 1.7 %

Shares of GBTC opened at $80.77 on Friday. The business’s 50-day moving average price is $64.33 and its 200-day moving average price is $56.65. Grayscale Bitcoin Trust has a twelve month low of $33.29 and a twelve month high of $82.44. The stock has a market cap of $41.25 billion, a PE ratio of 2.29 and a beta of 1.25.

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.