Sanders Morris Harris LLC Acquires New Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sanders Morris Harris LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,202 shares of the company’s stock, valued at approximately $315,000.

A number of other hedge funds have also recently added to or reduced their stakes in GBTC. Armstrong Advisory Group Inc. raised its stake in Grayscale Bitcoin Trust by 310.0% during 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 last quarter. West Oak Capital LLC raised its stake in Grayscale Bitcoin Trust by 100.0% during the third quarter. West Oak Capital LLC now owns 640 shares of the company’s stock worth $32,000 after buying an additional 320 shares during the last quarter. Hollencrest Capital Management raised its stake in Grayscale Bitcoin Trust by 88.9% during the second quarter. Hollencrest Capital Management now owns 850 shares of the company’s stock worth $45,000 after buying an additional 400 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Grayscale Bitcoin Trust during the third quarter worth $46,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Grayscale Bitcoin Trust in the third quarter valued at $50,000.

Grayscale Bitcoin Trust Stock Down 1.8 %

GBTC traded down $1.42 during midday trading on Thursday, hitting $77.55. The company had a trading volume of 342,154 shares, compared to its average volume of 2,769,094. Grayscale Bitcoin Trust has a 52 week low of $34.31 and a 52 week high of $86.11. The company has a market capitalization of $39.61 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The stock’s 50 day moving average price is $75.76 and its 200 day moving average price is $59.71.

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.