Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by IPG Investment Advisors LLC

IPG Investment Advisors LLC cut its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 28.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,899 shares of the company’s stock after selling 1,912 shares during the quarter. IPG Investment Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GBTC. RWA Wealth Partners LLC purchased a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth about $1,417,000. Maridea Wealth Management LLC purchased a new position in Grayscale Bitcoin Trust during the 4th quarter worth approximately $1,448,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Grayscale Bitcoin Trust by 19.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 8,088 shares of the company’s stock valued at $599,000 after acquiring an additional 1,316 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Grayscale Bitcoin Trust by 1.0% in the fourth quarter. Blair William & Co. IL now owns 109,413 shares of the company’s stock worth $8,099,000 after acquiring an additional 1,117 shares during the period. Finally, AssuredPartners Investment Advisors LLC purchased a new position in shares of Grayscale Bitcoin Trust during the fourth quarter worth $658,000.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA:GBTC opened at $66.18 on Friday. The firm’s fifty day moving average is $73.26 and its two-hundred day moving average is $68.03. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a one year low of $39.56 and a one year 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.