HFG Wealth Management LLC trimmed its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 25.6% in the second quarter, HoldingsChannel reports. The firm owned 160,617 shares of the company’s stock after selling 55,143 shares during the period. Grayscale Bitcoin Trust makes up 5.4% of HFG Wealth Management LLC’s portfolio, making the stock its 7th biggest position. HFG Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $8,551,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at $27,000. Toth Financial Advisory Corp bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at $28,000. YHB Investment Advisors Inc. acquired a new stake in shares of Grayscale Bitcoin Trust in the 1st quarter valued at $28,000. Hollencrest Capital Management bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $28,000. Finally, DHJJ Financial Advisors Ltd. acquired a new position in shares of Grayscale Bitcoin Trust during the second quarter valued at $26,000.
Grayscale Bitcoin Trust Stock Down 3.5 %
Shares of GBTC stock opened at $50.50 on Tuesday. Grayscale Bitcoin Trust has a 12 month low of $19.19 and a 12 month high of $65.61. The stock has a 50-day moving average price of $49.24 and a 200 day moving average price of $54.87. The firm has a market cap of $25.79 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.
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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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