AE Wealth Management LLC Purchases 28,877 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

AE Wealth Management LLC raised its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 611.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 33,603 shares of the company’s stock after purchasing an additional 28,877 shares during the period. AE Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $1,789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Tradition Wealth Management LLC bought a new position in Grayscale Bitcoin Trust in the fourth quarter worth $597,000. Aristides Capital LLC bought a new position in shares of Grayscale Bitcoin Trust during the 4th quarter worth about $522,000. Able Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $194,000. Garde Capital Inc. bought a new stake in Grayscale Bitcoin Trust in the fourth quarter valued at about $602,000. Finally, Enterprise Bank & Trust Co acquired a new position in Grayscale Bitcoin Trust in the first quarter worth about $243,000.

Grayscale Bitcoin Trust Stock Up 0.8 %

Shares of GBTC opened at $50.43 on Tuesday. The company has a 50-day moving average price of $49.76 and a two-hundred day moving average price of $55.22. The stock has a market cap of $25.76 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12 month low of $18.04 and a 12 month high of $65.61.

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.