Edge Wealth Management LLC Sells 1,400 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Edge Wealth Management LLC reduced its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 23.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,588 shares of the company’s stock after selling 1,400 shares during the quarter. Edge Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WCG Wealth Advisors LLC bought a new position in Grayscale Bitcoin Trust in the second quarter valued at approximately $864,000. Hollencrest Capital Management grew its stake in shares of Grayscale Bitcoin Trust by 88.9% in the second quarter. Hollencrest Capital Management now owns 850 shares of the company’s stock valued at $45,000 after buying an additional 400 shares in the last quarter. Simplify Asset Management Inc. increased its holdings in Grayscale Bitcoin Trust by 23.5% during the second quarter. Simplify Asset Management Inc. now owns 39,867 shares of the company’s stock worth $2,123,000 after buying an additional 7,578 shares during the last quarter. AE Wealth Management LLC increased its holdings in Grayscale Bitcoin Trust by 611.0% during the second quarter. AE Wealth Management LLC now owns 33,603 shares of the company’s stock worth $1,789,000 after buying an additional 28,877 shares during the last quarter. Finally, Bulltick Wealth Management LLC raised its position in Grayscale Bitcoin Trust by 16.8% during the second quarter. Bulltick Wealth Management LLC now owns 6,467 shares of the company’s stock worth $344,000 after acquiring an additional 930 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC opened at $79.56 on Friday. The company has a market cap of $40.63 billion, a PE ratio of 2.29 and a beta of 1.25. The firm has a 50-day moving average of $76.13 and a 200-day moving average of $59.84. Grayscale Bitcoin Trust has a one year low of $34.31 and a one year high of $86.11.

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.