Fiduciary Trust Co Trims Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Fiduciary Trust Co cut its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,115 shares of the company’s stock after selling 1,900 shares during the quarter. Fiduciary Trust Co’s holdings in Grayscale Bitcoin Trust were worth $3,894,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Flagstar Advisors Inc. grew its position in Grayscale Bitcoin Trust by 2.7% during the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after buying an additional 196 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in Grayscale Bitcoin Trust by 6.7% during the third quarter. Cornerstone Wealth Management LLC now owns 4,100 shares of the company’s stock worth $207,000 after buying an additional 257 shares in the last quarter. Sound Income Strategies LLC grew its position in Grayscale Bitcoin Trust by 6.3% during the third quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock worth $235,000 after buying an additional 276 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Grayscale Bitcoin Trust by 1.1% during the second quarter. SJS Investment Consulting Inc. now owns 27,453 shares of the company’s stock worth $1,462,000 after buying an additional 300 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC grew its position in Grayscale Bitcoin Trust by 3.4% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 9,612 shares of the company’s stock worth $485,000 after buying an additional 315 shares in the last quarter.

Grayscale Bitcoin Trust Stock Up 6.4 %

Grayscale Bitcoin Trust stock opened at $76.82 on Friday. Grayscale Bitcoin Trust has a 52 week low of $30.01 and a 52 week high of $79.34. The business has a 50-day simple moving average of $58.77 and a 200 day simple moving average of $55.36. The stock has a market cap of $39.23 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

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.