United Capital Management of KS Inc. Decreases Stock Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

United Capital Management of KS Inc. lowered its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 9.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,867 shares of the company’s stock after selling 534 shares during the quarter. United Capital Management of KS Inc.’s holdings in Grayscale Bitcoin Trust were worth $259,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth $95,000. BOKF NA purchased a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $57,000. SeaCrest Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $370,000. Opal Wealth Advisors LLC bought a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $262,000. Finally, Level Financial Advisors purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth approximately $255,000.

Grayscale Bitcoin Trust Trading Down 1.0 %

Shares of GBTC stock opened at $46.75 on Friday. Grayscale Bitcoin Trust has a 12 month low of $18.04 and a 12 month high of $65.61. The stock has a market cap of $23.88 billion, a P/E ratio of 2.29 and a beta of 1.25. The company has a 50 day simple moving average of $51.72 and a two-hundred day simple moving average of $55.67.

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.