Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Down – Time to Sell?

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $66.95, but opened at $65.53. Grayscale Bitcoin Trust shares last traded at $65.54, with a volume of 295,208 shares.

Grayscale Bitcoin Trust Stock Performance

The business’s fifty day moving average price is $75.23 and its two-hundred day moving average price is $66.66. The stock has a market capitalization of $16.35 billion, a P/E ratio of 2.23 and a beta of 2.59.

Hedge Funds Weigh In On Grayscale Bitcoin Trust

Several large investors have recently modified their holdings of GBTC. Rothschild Investment LLC increased its position in Grayscale Bitcoin Trust by 0.9% during the fourth quarter. Rothschild Investment LLC now owns 14,490 shares of the company’s stock valued at $1,073,000 after acquiring an additional 130 shares during the last quarter. Activest Wealth Management increased its position in Grayscale Bitcoin Trust by 53.0% during the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after acquiring an additional 140 shares during the last quarter. Mutual Advisors LLC increased its position in Grayscale Bitcoin Trust by 2.0% during the fourth quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock valued at $583,000 after acquiring an additional 146 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its position in Grayscale Bitcoin Trust by 1.0% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 16,906 shares of the company’s stock valued at $1,251,000 after acquiring an additional 165 shares during the last quarter. Finally, Synovus Financial Corp increased its position in Grayscale Bitcoin Trust by 0.8% during the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock valued at $1,058,000 after acquiring an additional 169 shares during the last quarter.

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.