Meridian Wealth Management LLC lessened its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,085 shares of the company’s stock after selling 215 shares during the quarter. Meridian Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $1,709,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Armstrong Advisory Group Inc. boosted its holdings in shares of 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 purchasing an additional 310 shares during the period. Activest Wealth Management boosted its position 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 worth $30,000 after purchasing an additional 140 shares in the last quarter. Bear Mountain Capital Inc. raised its stake in Grayscale Bitcoin Trust by 162.5% in the 4th quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock worth $43,000 after acquiring an additional 325 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Trust in the 3rd quarter worth $53,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in Grayscale Bitcoin Trust in the 3rd quarter worth $56,000.
Grayscale Bitcoin Trust Price Performance
Shares of GBTC stock opened at $68.03 on Tuesday. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 2.23 and a beta of 2.51. The business has a fifty day moving average of $76.86 and a 200 day moving average of $65.49. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11.
About Grayscale Bitcoin Trust
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.
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