Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $53.00, but opened at $55.67. Grayscale Bitcoin Trust ETF shares last traded at $55.34, with a volume of 1,221,055 shares changing hands.
Grayscale Bitcoin Trust ETF Stock Up 6.0%
The firm has a market cap of $10.90 billion, a PE ratio of 2.23 and a beta of 2.17. The company has a 50-day simple moving average of $49.24 and a two-hundred day simple moving average of $53.61.
Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF
Institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC purchased a new position in Grayscale Bitcoin Trust ETF in the second quarter valued at approximately $220,000. Wedbush Securities Inc. raised its stake in Grayscale Bitcoin Trust ETF by 5.6% in the 2nd quarter. Wedbush Securities Inc. now owns 24,594 shares of the company’s stock valued at $1,120,000 after acquiring an additional 1,298 shares during the period. Professional Financial Advisors LLC lifted its holdings in Grayscale Bitcoin Trust ETF by 11.8% during the second quarter. Professional Financial Advisors LLC now owns 28,390 shares of the company’s stock valued at $1,292,000 after purchasing an additional 3,004 shares during the last quarter. Pacific Excel Wealth Advisors Inc. bought a new position in Grayscale Bitcoin Trust ETF during the second quarter worth about $288,000. Finally, VectorGlobal IAG Inc. purchased a new position in shares of Grayscale Bitcoin Trust ETF in the first quarter worth about $205,000.
Grayscale Bitcoin Trust ETF 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.
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