Traphagen Investment Advisors LLC Sells 6,047 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Traphagen Investment Advisors LLC decreased its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,290 shares of the company’s stock after selling 6,047 shares during the period. Grayscale Bitcoin Trust comprises about 0.7% of Traphagen Investment Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Traphagen Investment Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $7,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GBTC. Synovus Financial Corp grew its holdings in shares of Grayscale Bitcoin Trust by 0.8% in the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after acquiring an additional 169 shares during the period. Flagstar Advisors Inc. grew its holdings in shares of Grayscale Bitcoin Trust by 2.7% in the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after acquiring an additional 196 shares during the period. Cornerstone Wealth Management LLC grew its holdings in shares of Grayscale Bitcoin Trust by 6.7% in the third quarter. Cornerstone Wealth Management LLC now owns 4,100 shares of the company’s stock worth $207,000 after acquiring an additional 257 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Grayscale Bitcoin Trust by 6.3% in the third quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock worth $235,000 after acquiring an additional 276 shares during the period. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of Grayscale Bitcoin Trust by 310.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after acquiring an additional 310 shares during the period.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC opened at $84.12 on Wednesday. Grayscale Bitcoin Trust has a one year low of $34.31 and a one year high of $86.11. The firm has a market capitalization of $42.96 billion, a P/E ratio of 2.29 and a beta of 1.25. The business has a fifty day moving average of $76.85 and a 200 day moving average of $60.32.

About Grayscale Bitcoin Trust

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.