Annapolis Financial Services LLC Acquires Shares of 2,362 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Annapolis Financial Services LLC acquired a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,362 shares of the company’s stock, valued at approximately $149,000.

Other institutional investors have also added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new position in Grayscale Bitcoin Trust during the first quarter valued at approximately $95,000. Opal Wealth Advisors LLC acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter worth $262,000. Brookstone Capital Management acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter worth $8,435,000. AdvisorNet Financial Inc acquired a new position in shares of Grayscale Bitcoin Trust during the first quarter worth $261,000. Finally, Able Wealth Management LLC acquired a new position in shares of Grayscale Bitcoin Trust during the fourth quarter worth $194,000.

Grayscale Bitcoin Trust Stock Down 2.3 %

Shares of NYSEARCA:GBTC traded down $1.28 during trading on Friday, hitting $53.24. 3,860,291 shares of the company were exchanged, compared to its average volume of 12,870,373. The business’s 50 day moving average is $58.01 and its 200-day moving average is $51.41. The company has a market capitalization of $27.19 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1-year low of $17.00 and a 1-year high of $65.61.

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.