Fiduciary Financial Group LLC Invests $718,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Fiduciary Financial Group LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,416 shares of the company’s stock, valued at approximately $718,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. acquired a new position in Grayscale Bitcoin Trust during the second quarter worth $159,000. Red Door Wealth Management LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 2nd quarter worth $5,134,000. Capital Advisors Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Trust during the 2nd quarter valued at $222,000. Tsfg LLC raised its holdings in Grayscale Bitcoin Trust by 11.9% during the 2nd quarter. Tsfg LLC now owns 26,371 shares of the company’s stock valued at $1,404,000 after buying an additional 2,805 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Grayscale Bitcoin Trust in the second quarter worth $200,000.

Grayscale Bitcoin Trust Trading Up 4.7 %

Grayscale Bitcoin Trust stock traded up $2.13 on Friday, hitting $47.63. 3,946,931 shares of the stock traded hands, compared to its average volume of 11,188,141. The business’s fifty day simple moving average is $54.07 and its 200 day simple moving average is $55.06. The firm has a market cap of $24.33 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.

Grayscale Bitcoin Trust Company 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.