Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Sees Large Decline in Short Interest

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTCGet Free Report) was the target of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 1,304,535 shares, a decrease of 66.3% from the February 12th total of 3,869,180 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 3,588,766 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 3,588,766 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.5% of the company’s stock are short sold.

Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC lifted its holdings in shares of Grayscale Bitcoin Trust ETF by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 48,585 shares of the company’s stock valued at $3,321,000 after purchasing an additional 1,052 shares during the last quarter. Compass Financial Group Inc. Ohio purchased a new position in shares of Grayscale Bitcoin Trust ETF in the 4th quarter worth about $213,000. AG Campbell Advisory LLC bought a new position in Grayscale Bitcoin Trust ETF in the 4th quarter worth about $368,000. Sankala Group LLC purchased a new stake in Grayscale Bitcoin Trust ETF during the 4th quarter valued at about $199,000. Finally, OakTrust Wealth Advisors LLC purchased a new stake in Grayscale Bitcoin Trust ETF during the 4th quarter valued at about $1,273,000.

Grayscale Bitcoin Trust ETF Trading Up 1.5%

Shares of GBTC stock opened at $54.60 on Wednesday. The company’s fifty day moving average price is $61.57 and its 200-day moving average price is $74.31. The stock has a market cap of $13.14 billion, a PE ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a 12 month low of $48.56 and a 12 month high of $99.12.

Grayscale Bitcoin Trust ETF Company Profile

(Get Free Report)

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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