Grayscale Bitcoin Trust (NYSEARCA:GBTC – Get Free Report) saw some unusual options trading on Monday. Stock traders bought 15,075 call options on the company. This represents an increase of 439% compared to the typical volume of 2,799 call options.
Institutional Investors Weigh In On Grayscale Bitcoin Trust
A number of large investors have recently made changes to their positions in GBTC. Prospera Financial Services Inc raised its position in Grayscale Bitcoin Trust by 26.7% during the 3rd quarter. Prospera Financial Services Inc now owns 7,835 shares of the company’s stock worth $396,000 after buying an additional 1,650 shares during the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the third quarter worth $53,000. Meridian Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust during the third quarter worth $1,177,000. Nwam LLC acquired a new position in Grayscale Bitcoin Trust during the third quarter valued at $1,186,000. Finally, Flagstar Advisors Inc. grew its position in Grayscale Bitcoin Trust by 2.7% during the 3rd quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after purchasing an additional 196 shares during the period.
Grayscale Bitcoin Trust Stock Down 0.1 %
GBTC stock opened at $69.72 on Wednesday. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The stock has a market capitalization of $17.09 billion, a PE ratio of 2.23 and a beta of 2.59. The firm has a 50 day moving average of $74.02 and a 200 day moving average of $67.72.
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.
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