Verde Capital Management Sells 3,113 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Verde Capital Management trimmed its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 5.1% in the 4th quarter, HoldingsChannel reports. The firm owned 57,503 shares of the company’s stock after selling 3,113 shares during the quarter. Grayscale Bitcoin Trust makes up approximately 1.2% of Verde Capital Management’s portfolio, making the stock its 16th largest holding. Verde Capital Management’s holdings in Grayscale Bitcoin Trust were worth $4,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Mutual Advisors LLC grew its stake in Grayscale Bitcoin Trust by 2.0% during the fourth quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock valued at $583,000 after acquiring an additional 146 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Grayscale Bitcoin Trust by 0.8% in the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after purchasing an additional 169 shares during the last quarter. Flagstar Advisors Inc. lifted its position in shares of Grayscale Bitcoin Trust by 2.7% in the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after buying an additional 196 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Grayscale Bitcoin Trust by 6.7% during the third quarter. Cornerstone Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $207,000 after buying an additional 257 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Grayscale Bitcoin Trust by 6.3% during the 3rd quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock valued at $235,000 after buying an additional 276 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC opened at $81.90 on Friday. The stock has a market capitalization of $41.83 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1 year low of $35.22 and a 1 year high of $86.11. The business’s 50 day simple moving average is $77.33 and its 200-day simple moving average is $60.71.

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.