Advance Capital Management Inc. Makes New $227,000 Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Advance Capital Management Inc. acquired a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,064 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors have also recently made changes to their positions in the company. Greenwich Wealth Management LLC grew its holdings in Grayscale Bitcoin Trust by 99.9% during the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock valued at $54,379,000 after buying an additional 538,256 shares in the last quarter. LPL Financial LLC raised its stake in Grayscale Bitcoin Trust by 7.1% during the second quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock valued at $54,887,000 after purchasing an additional 68,698 shares in the last quarter. Mad River Investors grew its stake in shares of Grayscale Bitcoin Trust by 26.7% in the 3rd quarter. Mad River Investors now owns 389,745 shares of the company’s stock worth $19,682,000 after buying an additional 82,187 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Grayscale Bitcoin Trust by 0.4% in the 3rd quarter. Moors & Cabot Inc. now owns 368,975 shares of the company’s stock worth $18,633,000 after buying an additional 1,305 shares during the last quarter. Finally, Magnolia Capital Advisors LLC bought a new position in shares of Grayscale Bitcoin Trust in the 2nd quarter valued at about $14,810,000.

Grayscale Bitcoin Trust Trading Up 3.9 %

NYSEARCA:GBTC traded up $3.02 during midday trading on Monday, hitting $81.04. 3,647,159 shares of the company traded hands, compared to its average volume of 3,008,657. The firm’s fifty day moving average is $72.54 and its 200-day moving average is $58.53. The firm has a market capitalization of $41.39 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12-month low of $34.31 and a 12-month high of $86.11.

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.