Miracle Mile Advisors LLC Buys New Shares in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Miracle Mile Advisors LLC bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,798 shares of the company’s stock, valued at approximately $303,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth about $28,000. Atticus Wealth Management LLC purchased a new position in Grayscale Bitcoin Trust during the 1st quarter worth approximately $33,000. Harbor Investment Advisory LLC purchased a new position in Grayscale Bitcoin Trust during the 1st quarter worth approximately $34,000. Wolff Wiese Magana LLC acquired a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $45,000. Finally, PFS Partners LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 1st quarter valued at $50,000.

Grayscale Bitcoin Trust Price Performance

NYSEARCA:GBTC opened at $56.10 on Tuesday. The company’s fifty day moving average price is $57.95 and its 200-day moving average price is $51.63. Grayscale Bitcoin Trust has a 1-year low of $17.00 and a 1-year high of $65.61. The firm has a market capitalization of $28.65 billion, a P/E 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.