Advance Capital Management Inc. Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Advance Capital Management Inc. acquired a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,064 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenwich Wealth Management LLC raised its stake in Grayscale Bitcoin Trust by 99.9% during the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock worth $54,379,000 after acquiring an additional 538,256 shares during the period. Magnolia Capital Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 2nd quarter valued at $14,810,000. International Assets Investment Management LLC lifted its stake in shares of Grayscale Bitcoin Trust by 4,950.0% during the 3rd quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock valued at $97,670,000 after buying an additional 189,585 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Grayscale Bitcoin Trust by 4,689.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 184,686 shares of the company’s stock worth $98,000 after buying an additional 180,830 shares during the period. Finally, Atlas Wealth Partners LLC purchased a new stake in Grayscale Bitcoin Trust in the 3rd quarter worth $7,774,000.

Grayscale Bitcoin Trust Stock Performance

Shares of Grayscale Bitcoin Trust stock traded up $3.02 during trading hours on Monday, hitting $81.04. The company’s stock had a trading volume of 3,647,159 shares, compared to its average volume of 3,008,657. The company has a market cap of $41.39 billion, a PE ratio of 2.29 and a beta of 1.25. The business has a 50 day moving average price of $72.54 and a two-hundred day moving average price of $58.53. Grayscale Bitcoin Trust has a 12-month low of $34.31 and a 12-month high of $86.11.

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.