Fortis Capital Management LLC Reduces Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Fortis Capital Management LLC trimmed its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,298 shares of the company’s stock after selling 641 shares during the period. Fortis Capital Management LLC’s holdings in Grayscale Bitcoin Trust were worth $836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. lifted its position in Grayscale Bitcoin Trust by 310.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after acquiring an additional 310 shares during the period. Activest Wealth Management lifted its position in Grayscale Bitcoin Trust by 53.0% during the 4th 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 period. Synergy Investment Management LLC purchased a new position in Grayscale Bitcoin Trust during the 4th quarter valued at about $30,000. Cullen Frost Bankers Inc. purchased a new position in Grayscale Bitcoin Trust during the 4th quarter valued at about $36,000. Finally, Bear Mountain Capital Inc. lifted its position in Grayscale Bitcoin Trust by 162.5% during the 4th quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock valued at $43,000 after acquiring an additional 325 shares during the period.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA GBTC opened at $66.32 on Friday. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11. The stock has a market cap of $16.41 billion, a P/E ratio of 2.23 and a beta of 2.59. The firm has a 50-day moving average of $74.24 and a 200 day moving average of $67.21.

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.