Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Down 4.5% – What’s Next?

Posted by Tyrone Williams on Nov 27th, 2024

Grayscale Bitcoin Trust (NYSEARCA:GBTC – Get Free Report) traded down 4.5% during trading on Monday . The company traded as low as $74.95 and last traded at $75.29. 4,768,363 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 8,914,126 shares. The stock had previously closed at $78.87.

Grayscale Bitcoin Trust Price Performance

The company has a market cap of $39.23 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock has a 50-day moving average of $58.24 and a 200 day moving average of $55.21.

Hedge Funds Weigh In On Grayscale Bitcoin Trust

Hedge funds have recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth approximately $460,000. BOKF NA acquired a new stake in shares of Grayscale Bitcoin Trust in the 1st quarter valued at $57,000. Coppell Advisory Solutions Corp. bought a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at $661,000. Comerica Bank acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth $361,000. Finally, Vima LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth $254,000.

About Grayscale Bitcoin Trust

(Get Free Report)

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.