Prosperity Wealth Management Inc. Takes Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Prosperity Wealth Management Inc. purchased a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 3,168 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GBTC. Proficio Capital Partners LLC boosted its holdings in shares of Grayscale Bitcoin Trust by 4,462.7% during the fourth quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock valued at $155,735,000 after acquiring an additional 2,057,850 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Grayscale Bitcoin Trust in the fourth quarter worth about $19,360,000. SLT Holdings LLC acquired a new stake in Grayscale Bitcoin Trust in the fourth quarter worth about $10,203,000. Citrine Capital LLC acquired a new stake in Grayscale Bitcoin Trust in the fourth quarter worth about $7,721,000. Finally, Variant Private Wealth LLC acquired a new stake in Grayscale Bitcoin Trust in the fourth quarter worth about $7,113,000.

Grayscale Bitcoin Trust Stock Down 0.2 %

GBTC stock opened at $65.57 on Thursday. The company has a market capitalization of $16.22 billion, a P/E ratio of 2.23 and a beta of 2.59. The company has a 50-day simple moving average of $75.72 and a 200 day simple moving average of $66.31. Grayscale Bitcoin Trust has a fifty-two week low of $39.56 and a fifty-two week high of $86.11.

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.