Salem Investment Counselors Inc. Invests $112,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Salem Investment Counselors Inc. acquired a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 1,773 shares of the company’s stock, valued at approximately $112,000.

Several other large investors have also modified their holdings of GBTC. Optimum Investment Advisors purchased a new position in Grayscale Bitcoin Trust in the first quarter valued at approximately $95,000. Kathleen S. Wright Associates Inc. purchased a new position in Grayscale Bitcoin Trust in the fourth quarter valued at approximately $59,000. Winch Advisory Services LLC purchased a new position in Grayscale Bitcoin Trust in the fourth quarter valued at approximately $66,000. Sanders Morris Harris LLC purchased a new position in Grayscale Bitcoin Trust in the first quarter valued at approximately $225,000. Finally, Enterprise Bank & Trust Co purchased a new position in Grayscale Bitcoin Trust in the first quarter valued at approximately $243,000.

Grayscale Bitcoin Trust Stock Down 1.2 %

Shares of NYSEARCA:GBTC opened at $57.04 on Monday. Grayscale Bitcoin Trust has a 52-week low of $17.00 and a 52-week high of $65.61. The company has a 50 day moving average of $58.23 and a two-hundred day moving average of $50.91. The company has a market capitalization of $29.13 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.