Palumbo Wealth Management LLC Makes New Investment in Grayscale Bitcoin Trust ETF $GBTC

Palumbo Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,259 shares of the company’s stock, valued at approximately $4,598,000. Grayscale Bitcoin Trust ETF makes up about 1.1% of Palumbo Wealth Management LLC’s portfolio, making the stock its 20th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ciovacco Capital Management LLC bought a new stake in Grayscale Bitcoin Trust ETF during the third quarter worth $696,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Grayscale Bitcoin Trust ETF in the second quarter valued at $2,779,000. CWM LLC increased its holdings in shares of Grayscale Bitcoin Trust ETF by 117.9% in the third quarter. CWM LLC now owns 12,571 shares of the company’s stock valued at $1,128,000 after purchasing an additional 6,802 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Grayscale Bitcoin Trust ETF by 203.6% in the second quarter. Corient Private Wealth LLC now owns 49,653 shares of the company’s stock valued at $4,212,000 after purchasing an additional 33,299 shares during the last quarter. Finally, Traynor Capital Management Inc. acquired a new position in shares of Grayscale Bitcoin Trust ETF in the third quarter valued at $775,000.

Grayscale Bitcoin Trust ETF Price Performance

NYSEARCA:GBTC opened at $53.70 on Wednesday. Grayscale Bitcoin Trust ETF has a one year low of $48.56 and a one year high of $99.12. The company has a market cap of $12.93 billion, a P/E ratio of 2.23 and a beta of 2.24. The firm’s fifty day moving average price is $54.71 and its two-hundred day moving average price is $69.47.

Grayscale Bitcoin Trust ETF 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.