Convergence Financial LLC Lowers Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Convergence Financial LLC decreased its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,700 shares of the company’s stock after selling 927 shares during the period. Grayscale Bitcoin Trust comprises about 0.9% of Convergence Financial LLC’s holdings, making the stock its 27th largest position. Convergence Financial LLC’s holdings in Grayscale Bitcoin Trust were worth $4,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Greenwich Wealth Management LLC lifted its stake in Grayscale Bitcoin Trust by 99.9% during the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock valued at $54,379,000 after acquiring an additional 538,256 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Grayscale Bitcoin Trust by 0.4% during the third quarter. Moors & Cabot Inc. now owns 368,975 shares of the company’s stock valued at $18,633,000 after purchasing an additional 1,305 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Grayscale Bitcoin Trust during the fourth quarter valued at about $19,360,000. Foundations Investment Advisors LLC boosted its holdings in Grayscale Bitcoin Trust by 25.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 143,835 shares of the company’s stock worth $10,647,000 after purchasing an additional 29,389 shares during the last quarter. Finally, Brookstone Capital Management grew its position in Grayscale Bitcoin Trust by 1.3% in the 4th quarter. Brookstone Capital Management now owns 128,233 shares of the company’s stock worth $9,492,000 after purchasing an additional 1,612 shares in the last quarter.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA:GBTC opened at $66.71 on Thursday. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The firm has a 50-day moving average price of $77.38 and a two-hundred day moving average price of $64.94. The firm has a market cap of $16.86 billion, a price-to-earnings ratio of 2.23 and a beta of 2.51.

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.