Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lessened its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 18.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 55,457 shares of the company’s stock after selling 12,825 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Grayscale Bitcoin Trust were worth $4,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GBTC. Greenwich Wealth Management LLC raised its position in shares of 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 in the last quarter. Strategic Financial Concepts LLC acquired a new position in Grayscale Bitcoin Trust during the fourth quarter worth approximately $19,360,000. International Assets Investment Management LLC increased its position in Grayscale Bitcoin Trust by 4,950.0% during the third quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock worth $97,670,000 after buying an additional 189,585 shares during the period. Citrine Capital LLC acquired a new position in Grayscale Bitcoin Trust during the fourth quarter worth approximately $7,721,000. Finally, Variant Private Wealth LLC acquired a new position in Grayscale Bitcoin Trust during the fourth quarter worth approximately $7,113,000.

Grayscale Bitcoin Trust Stock Down 3.8 %

GBTC opened at $75.06 on Friday. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 2.23 and a beta of 2.51. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The business’s 50 day moving average is $78.14 and its two-hundred day moving average is $64.31.

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.