Oliver Lagore Vanvalin Investment Group lowered its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 22.0% in the second quarter, Holdings Channel reports. The firm owned 23,656 shares of the company’s stock after selling 6,657 shares during the quarter. Oliver Lagore Vanvalin Investment Group’s holdings in Grayscale Bitcoin Trust were worth $1,259,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at about $117,350,000. Farallon Capital Management LLC bought a new stake in Grayscale Bitcoin Trust during the first quarter worth $85,221,000. LPL Financial LLC lifted its stake in Grayscale Bitcoin Trust by 7.1% in the second quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock valued at $54,887,000 after acquiring an additional 68,698 shares during the last quarter. Sloy Dahl & Holst LLC bought a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at about $32,959,000. Finally, Bracebridge Capital LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth about $26,526,000.
Grayscale Bitcoin Trust Stock Performance
Shares of GBTC stock opened at $52.30 on Friday. Grayscale Bitcoin Trust has a 52-week low of $18.20 and a 52-week high of $65.61. The stock has a market cap of $26.71 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The firm’s 50-day moving average is $49.39 and its 200-day moving average is $55.09.
Grayscale Bitcoin Trust Company 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.
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Want to see what other hedge funds are holding GBTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report).
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