NewEdge Advisors LLC Sells 305 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

NewEdge Advisors LLC lowered its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 36,979 shares of the company’s stock after selling 305 shares during the quarter. NewEdge Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $1,969,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Grayscale Bitcoin Trust in the 2nd quarter worth about $26,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Grayscale Bitcoin Trust in the first quarter worth about $27,000. Global Wealth Strategies & Associates purchased a new stake in Grayscale Bitcoin Trust in the second quarter worth about $27,000. YHB Investment Advisors Inc. purchased a new stake in Grayscale Bitcoin Trust in the first quarter worth about $28,000. Finally, Toth Financial Advisory Corp bought a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $28,000.

Grayscale Bitcoin Trust Stock Performance

Shares of NYSEARCA:GBTC opened at $49.67 on Friday. The firm has a market capitalization of $25.37 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock has a 50 day moving average price of $48.27 and a 200-day moving average price of $54.54. Grayscale Bitcoin Trust has a 52-week low of $19.82 and a 52-week 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.