Royal Fund Management LLC Decreases Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Royal Fund Management LLC reduced its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 50.0% during the fourth quarter, HoldingsChannel reports. The firm owned 2,750 shares of the company’s stock after selling 2,750 shares during the quarter. Royal Fund Management LLC’s holdings in Grayscale Bitcoin Trust were worth $204,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Zhang Financial LLC purchased a new position in Grayscale Bitcoin Trust in the fourth quarter valued at about $283,000. UMB Bank n.a. raised its position in shares of Grayscale Bitcoin Trust by 104.3% in the 4th quarter. UMB Bank n.a. now owns 4,777 shares of the company’s stock valued at $354,000 after purchasing an additional 2,439 shares in the last quarter. Thrive Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at approximately $244,000. IAM Advisory LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter worth approximately $282,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter worth $245,000.

Grayscale Bitcoin Trust Price Performance

NYSEARCA GBTC opened at $84.12 on Wednesday. The company has a market capitalization of $42.96 billion, a price-to-earnings 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. The company’s fifty day moving average price is $76.85 and its two-hundred day moving average price is $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.