Cornerstone Wealth Group LLC Buys Shares of 4,364 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Cornerstone Wealth Group LLC bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, Holdings Channel reports. The fund bought 4,364 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC bought a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at approximately $66,000. Next Capital Management LLC bought a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at approximately $670,000. Equitable Trust Co. bought a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at approximately $203,000. Canton Hathaway LLC bought a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at approximately $942,000. Finally, SVB Wealth LLC bought a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at approximately $770,000.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC traded down $1.28 on Friday, hitting $53.24. 3,860,291 shares of the stock traded hands, compared to its average volume of 12,870,373. The company has a market capitalization of $27.19 billion, a PE ratio of 2.29 and a beta of 1.25. The business has a 50 day simple moving average of $58.01 and a 200 day simple moving average of $51.41. Grayscale Bitcoin Trust has a one year low of $17.00 and a one 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.