Sowell Financial Services LLC Sells 12,799 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sowell Financial Services LLC trimmed its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 24.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 39,849 shares of the company’s stock after selling 12,799 shares during the period. Sowell Financial Services LLC’s holdings in Grayscale Bitcoin Trust were worth $2,950,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Lifeworks Advisors LLC raised its stake in Grayscale Bitcoin Trust by 7.4% during the 4th quarter. Lifeworks Advisors LLC now owns 5,781 shares of the company’s stock worth $428,000 after buying an additional 400 shares during the period. Larson Financial Group LLC raised its stake in shares of Grayscale Bitcoin Trust by 3.4% in the 4th quarter. Larson Financial Group LLC now owns 105,929 shares of the company’s stock valued at $7,841,000 after purchasing an additional 3,496 shares during the period. Mesirow Financial Investment Management Inc. raised its stake in shares of Grayscale Bitcoin Trust by 88.8% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 17,930 shares of the company’s stock valued at $1,327,000 after purchasing an additional 8,433 shares during the period. Haven Private LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter valued at about $5,434,000. Finally, Acas LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at about $610,000.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA:GBTC opened at $68.79 on Monday. The stock’s 50-day simple moving average is $76.30 and its 200 day simple moving average is $66.11. The company has a market cap of $17.02 billion, a P/E ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a 52-week low of $39.56 and a 52-week 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.