Hollencrest Capital Management Sells 325 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Hollencrest Capital Management lowered its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 27.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 870 shares of the company’s stock after selling 325 shares during the quarter. Hollencrest Capital Management’s holdings in Grayscale Bitcoin Trust were worth $64,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its holdings in shares of Grayscale Bitcoin Trust by 0.9% in the 4th quarter. Rothschild Investment LLC now owns 14,490 shares of the company’s stock worth $1,073,000 after purchasing an additional 130 shares in the last quarter. Activest Wealth Management boosted its position in shares of Grayscale Bitcoin Trust by 53.0% during the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after buying an additional 140 shares during the last quarter. Mutual Advisors LLC increased its holdings in Grayscale Bitcoin Trust by 2.0% in the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock worth $583,000 after buying an additional 146 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in Grayscale Bitcoin Trust by 1.0% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 16,906 shares of the company’s stock worth $1,251,000 after buying an additional 165 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in Grayscale Bitcoin Trust by 0.8% during the 3rd quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock valued at $1,058,000 after acquiring an additional 169 shares during the period.

Grayscale Bitcoin Trust Stock Down 0.2 %

Shares of NYSEARCA GBTC opened at $65.57 on Thursday. The firm’s 50-day moving average price is $75.72 and its 200-day moving average price is $66.31. Grayscale Bitcoin Trust has a 52-week low of $39.56 and a 52-week high of $86.11. The company has a market cap of $16.22 billion, a PE ratio of 2.23 and a beta of 2.59.

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.