Salem Investment Counselors Inc. Purchases Shares of 1,773 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Salem Investment Counselors Inc. purchased a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,773 shares of the company’s stock, valued at approximately $112,000.

A number of other institutional investors have also bought and sold shares of the company. Optimum Investment Advisors bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at about $95,000. Able Wealth Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth approximately $194,000. Kathleen S. Wright Associates Inc. purchased a new position in Grayscale Bitcoin Trust in the 4th quarter valued at approximately $59,000. Next Capital Management LLC purchased a new position in Grayscale Bitcoin Trust in the 4th quarter valued at approximately $670,000. Finally, SVB Wealth LLC bought a new position in Grayscale Bitcoin Trust in the 4th quarter valued at $770,000.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA GBTC opened at $57.04 on Monday. Grayscale Bitcoin Trust has a 52-week low of $17.00 and a 52-week high of $65.61. The company has a market capitalization of $29.13 billion, a P/E ratio of 2.29 and a beta of 1.25. The company has a fifty day moving average of $58.23 and a 200-day moving average of $50.91.

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.