AdvisorNet Financial Inc Sells 2,484 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

AdvisorNet Financial Inc has decreased its investment in the Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 62.3% during the fourth quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). Following the sale of 2,484 shares, the fund now holds 1,500 shares of the company, which were valued at approximately $111,000 in the most recent report submitted to the SEC.

Several other investment firms have also adjusted their positions in the Grayscale Bitcoin Trust recently. For example, Bleakley Financial Group LLC increased its stake by 2.3% during the third quarter and now owns 60,389 shares worth $3,050,000, having purchased an additional 1,349 shares during that time. ORG Wealth Partners LLC entered a new position in the Grayscale Bitcoin Trust in the same quarter, valued at around $46,000. Meanwhile, Intellectus Partners LLC raised its holdings by 4.1%, now possessing 79,934 shares valued at $4,037,000 after acquiring an extra 3,165 shares in the latest quarter. Additionally, Sound Income Strategies LLC expanded its shares by 6.3%, currently owning 4,651 shares worth $235,000 after purchasing 276 more shares in the last quarter. Finally, Cerity Partners LLC increased its stake by 25.6%, now owning 44,913 shares valued at $2,268,000 following the acquisition of an additional 9,152 shares during the period.

Current Grayscale Bitcoin Trust Stock Performance

As of Friday, the Grayscale Bitcoin Trust (GBTC) stock opened at $83.05. The stock has seen a twelve-month low of $34.31 and a high of $86.11. With a market capitalization of $42.41 billion, the company has a P/E ratio of 2.29 and a beta value of 1.25. Its fifty-day moving average stands at $76.57, while its 200-day moving average is at $60.03.

Overview of Grayscale Bitcoin Trust

The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that primarily invests in long positions in Bitcoin and short positions in US dollars. The fund is passively managed, providing investors with exposure to the daily USD spot price of Bitcoin (BTC). However, investing in GBTC does not equate to direct investment in Bitcoin itself. The trust was initiated on January 11, 2024, and is managed by Grayscale.

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For those interested in following hedge fund activity regarding GBTC, visit HoldingsChannel.com to access the latest 13F filings and insider trades for Grayscale Bitcoin Trust (NYSEARCA:GBTC).

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