Orion Portfolio Solutions LLC Has $342,000 Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Orion Portfolio Solutions LLC lowered its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 7.1% during the third quarter, Holdings Channel reports. The fund owned 6,772 shares of the company’s stock after selling 514 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Grayscale Bitcoin Trust were worth $342,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GBTC. Greenwich Wealth Management LLC grew its position in Grayscale Bitcoin Trust by 99.9% during the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock worth $54,379,000 after purchasing an additional 538,256 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Grayscale Bitcoin Trust during the second quarter valued at $14,810,000. International Assets Investment Management LLC raised its position in Grayscale Bitcoin Trust by 4,950.0% during the third quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock valued at $97,670,000 after buying an additional 189,585 shares during the period. Strategic Financial Concepts LLC lifted its stake in Grayscale Bitcoin Trust by 4,689.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 184,686 shares of the company’s stock worth $98,000 after acquiring an additional 180,830 shares in the last quarter. Finally, Atlas Wealth Partners LLC purchased a new position in Grayscale Bitcoin Trust during the 3rd quarter valued at about $7,774,000.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC opened at $79.81 on Thursday. The business’s 50-day moving average is $66.96 and its 200-day moving average is $57.22. The company has a market capitalization of $40.76 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a fifty-two week low of $33.95 and a fifty-two week high of $86.11.

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.