Brookstone Capital Management Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Brookstone Capital Management purchased a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 133,533 shares of the company’s stock, valued at approximately $8,435,000.

Several other hedge funds have also recently modified their holdings of GBTC. Global Assets Advisory LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $22,079,000. Canton Hathaway LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $942,000. SVB Wealth LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $770,000. Next Capital Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $670,000. Finally, Garde Capital Inc. purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $602,000.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC opened at $54.51 on Friday. The company has a 50 day moving average price of $58.09 and a 200-day moving average price of $51.39. Grayscale Bitcoin Trust has a fifty-two week low of $17.00 and a fifty-two week high of $65.61. The stock has a market capitalization of $27.84 billion, a PE ratio of 2.29 and a beta of 1.25.

Grayscale Bitcoin Trust Company 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.