Financial Management Professionals Inc. Sells 11,015 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Financial Management Professionals Inc. lowered its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 31.9% in the fourth quarter, Holdings Channel reports. The firm owned 23,464 shares of the company’s stock after selling 11,015 shares during the period. Financial Management Professionals Inc.’s holdings in Grayscale Bitcoin Trust were worth $1,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GBTC. Armstrong Advisory Group Inc. boosted its position 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 valued at $30,000 after acquiring an additional 310 shares during the period. West Oak Capital LLC boosted its position in shares of Grayscale Bitcoin Trust by 100.0% in the third quarter. West Oak Capital LLC now owns 640 shares of the company’s stock valued at $32,000 after acquiring an additional 320 shares during the period. Hollencrest Capital Management boosted its position 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 acquiring an additional 400 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Grayscale Bitcoin Trust in the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Grayscale Bitcoin Trust in the third quarter valued at approximately $50,000.

Grayscale Bitcoin Trust Trading Up 4.4 %

GBTC opened at $83.05 on Friday. Grayscale Bitcoin Trust has a 1-year low of $34.31 and a 1-year high of $86.11. The stock has a market capitalization of $42.41 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The business has a 50 day moving average of $76.57 and a 200-day moving average of $60.07.

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.