Horizon Wealth Management LLC Invests $238,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Horizon Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,772 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimum Investment Advisors bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth about $95,000. Opal Wealth Advisors LLC bought a new stake in Grayscale Bitcoin Trust in the first quarter valued at approximately $262,000. Brookstone Capital Management bought a new stake in Grayscale Bitcoin Trust in the first quarter valued at approximately $8,435,000. Grimes & Company Inc. bought a new stake in Grayscale Bitcoin Trust in the first quarter valued at approximately $2,004,000. Finally, AdvisorNet Financial Inc bought a new stake in Grayscale Bitcoin Trust in the first quarter valued at approximately $261,000.

Grayscale Bitcoin Trust Trading Up 6.2 %

Grayscale Bitcoin Trust stock traded up $3.32 during trading on Monday, hitting $56.56. 2,207,713 shares of the company were exchanged, compared to its average volume of 12,785,451. The company has a market capitalization of $28.89 billion, a P/E ratio of 2.29 and a beta of 1.25. The business’s 50 day moving average is $58.01 and its 200 day moving average is $51.51. Grayscale Bitcoin Trust has a 52 week low of $17.00 and a 52 week high of $65.61.

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.