Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Up to $53.24

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $53.24, but opened at $55.87. Grayscale Bitcoin Trust shares last traded at $55.64, with a volume of 543,930 shares.

Grayscale Bitcoin Trust Stock Performance

The stock has a market cap of $28.37 billion, a P/E ratio of 2.29 and a beta of 1.25. The company’s fifty day moving average price is $58.01 and its 200-day moving average price is $51.51.

Institutional Investors Weigh In On Grayscale Bitcoin Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. HFG Wealth Management LLC purchased a new position in Grayscale Bitcoin Trust in the 1st quarter worth about $13,630,000. EverSource Wealth Advisors LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth about $81,000. Objective Capital Management LLC purchased a new position in shares of Grayscale Bitcoin Trust during the first quarter worth approximately $268,000. Pathway Financial Advisers LLC bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $122,000. Finally, Soltis Investment Advisors LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $1,384,000.

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.