KMG Fiduciary Partners LLC Invests $218,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

KMG Fiduciary Partners LLC bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,949 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Capital Advisors Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter worth $271,000. Sanders Morris Harris LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter worth $315,000. Brave Asset Management Inc. acquired a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter worth $235,000. Armstrong Advisory Group Inc. boosted its position in shares of Grayscale Bitcoin Trust by 310.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after buying an additional 310 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Grayscale Bitcoin Trust by 16.8% in the fourth quarter. Park Avenue Securities LLC now owns 8,378 shares of the company’s stock worth $620,000 after buying an additional 1,203 shares during the period.

Grayscale Bitcoin Trust Trading Up 4.4 %

GBTC opened at $83.05 on Friday. The stock has a market cap of $42.41 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1 year low of $34.31 and a 1 year high of $86.11. The stock has a fifty day moving average price of $76.57 and a 200 day moving average price of $60.03.

Grayscale Bitcoin Trust 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.