Meridian Wealth Management LLC bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) during the 3rd quarter, HoldingsChannel reports. The firm bought 23,300 shares of the company’s stock, valued at approximately $1,177,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GBTC. BOKF NA purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $57,000. Bleakley Financial Group LLC lifted its holdings in Grayscale Bitcoin Trust by 2.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 60,389 shares of the company’s stock worth $3,050,000 after buying an additional 1,349 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Grayscale Bitcoin Trust in the 3rd quarter valued at about $46,000. Western Wealth Management LLC grew its stake in shares of Grayscale Bitcoin Trust by 30.2% during the second quarter. Western Wealth Management LLC now owns 13,068 shares of the company’s stock valued at $696,000 after acquiring an additional 3,030 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth about $460,000.
Grayscale Bitcoin Trust Stock Performance
NYSEARCA:GBTC opened at $78.87 on Friday. Grayscale Bitcoin Trust has a one year low of $29.88 and a one year high of $79.34. The business’s 50-day simple moving average is $56.59 and its 200 day simple moving average is $54.80. The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.
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.
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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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