Total Investment Management Inc. Makes New $225,000 Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Total Investment Management Inc. bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, Holdings Channel reports. The fund bought 3,567 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBTC. Optimum Investment Advisors bought a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $95,000. Opal Wealth Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $262,000. AdvisorNet Financial Inc purchased a new stake in Grayscale Bitcoin Trust in the first quarter worth $261,000. Brookstone Capital Management bought a new position in Grayscale Bitcoin Trust in the first quarter worth $8,435,000. Finally, Able Wealth Management LLC purchased a new position in Grayscale Bitcoin Trust during the fourth quarter valued at $194,000.

Grayscale Bitcoin Trust Stock Down 2.3 %

Shares of GBTC stock traded down $1.28 during mid-day trading on Friday, reaching $53.24. 3,860,291 shares of the company’s stock traded hands, compared to its average volume of 12,870,373. The company’s 50-day moving average price is $58.01 and its 200-day moving average price is $51.41. The company has a market cap of $27.19 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12 month low of $17.00 and a 12 month high of $65.61.

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.