Huntington National Bank Lowers Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Huntington National Bank cut its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 44.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,252 shares of the company’s stock after selling 1,000 shares during the quarter. Huntington National Bank’s holdings in Grayscale Bitcoin Trust were worth $63,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GBTC. Janney Montgomery Scott LLC bought a new position in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $363,000. Quent Capital LLC purchased a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth about $460,000. Kingsview Wealth Management LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth about $317,000. InterOcean Capital Group LLC purchased a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at about $1,683,000. Finally, Sentinel Pension Advisors Inc. purchased a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at about $243,000.

Grayscale Bitcoin Trust Stock Performance

Shares of Grayscale Bitcoin Trust stock opened at $72.81 on Tuesday. The company has a 50-day simple moving average of $53.66 and a two-hundred day simple moving average of $54.07. The stock has a market capitalization of $37.18 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 52-week low of $29.05 and a 52-week high of $74.36.

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.