Grayscale Bitcoin Trust (NYSEARCA:GBTC – Get Free Report) was the recipient of unusually large options trading on Monday. Investors bought 15,075 call options on the stock. This is an increase of approximately 439% compared to the average volume of 2,799 call options.
Grayscale Bitcoin Trust Stock Up 5.2 %
Shares of Grayscale Bitcoin Trust stock opened at $69.77 on Tuesday. The business has a fifty day simple moving average of $74.15 and a 200-day simple moving average of $67.53. Grayscale Bitcoin Trust has a fifty-two week low of $39.56 and a fifty-two week high of $86.11. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59.
Hedge Funds Weigh In On Grayscale Bitcoin Trust
Several large investors have recently made changes to their positions in GBTC. M1 Capital Management LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth $225,000. Objective Capital Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the fourth quarter valued at $252,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Grayscale Bitcoin Trust by 26.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 221,153 shares of the company’s stock valued at $16,370,000 after purchasing an additional 46,072 shares during the period. Copia Wealth Management purchased a new position in Grayscale Bitcoin Trust in the 4th quarter worth about $1,227,000. Finally, Capital A Wealth Management LLC purchased a new position in Grayscale Bitcoin Trust in the 4th quarter worth about $35,000.
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.
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