PFG Investments LLC Lowers Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

PFG Investments LLC lessened its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 69.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the company’s stock after selling 18,441 shares during the period. PFG Investments LLC’s holdings in Grayscale Bitcoin Trust were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Grayscale Bitcoin Trust during the first quarter valued at $117,350,000. Farallon Capital Management LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth about $85,221,000. Sloy Dahl & Holst LLC purchased a new position in Grayscale Bitcoin Trust in the 1st quarter valued at about $32,959,000. Bracebridge Capital LLC acquired a new stake in Grayscale Bitcoin Trust in the 1st quarter worth about $26,526,000. Finally, Mad River Investors purchased a new stake in Grayscale Bitcoin Trust during the 1st quarter worth approximately $25,251,000.

Grayscale Bitcoin Trust Price Performance

NYSEARCA GBTC opened at $46.53 on Friday. The stock’s 50 day simple moving average is $50.18 and its 200-day simple moving average is $55.57. The company has a market cap of $23.76 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1-year low of $18.04 and a 1-year high of $65.61.

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.