Grayscale Bitcoin Trust Target of Unusually Large Options Trading (NYSEARCA:GBTC)

Grayscale Bitcoin Trust (NYSEARCA:GBTC) was the target of unusually large options trading on Monday. Traders bought 15,075 call options on the company. This represents an increase of 439% compared to the typical volume of 2,799 call options.

Hedge Funds Weigh In On Grayscale Bitcoin Trust

Several institutional investors have recently made changes to their positions in GBTC. Armstrong Advisory Group Inc. grew its position in Grayscale Bitcoin Trust by 310.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after purchasing an additional 310 shares during the last quarter. Activest Wealth Management boosted its position in shares of Grayscale Bitcoin Trust by 53.0% during the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after buying an additional 140 shares during the period. Synergy Investment Management LLC bought a new position in Grayscale Bitcoin Trust in the 4th quarter worth approximately $30,000. Pacific Center for Financial Services acquired a new stake in Grayscale Bitcoin Trust in the 4th quarter valued at approximately $31,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of Grayscale Bitcoin Trust during the fourth quarter valued at $32,000.

Grayscale Bitcoin Trust Trading Up 5.2 %

GBTC stock opened at $69.77 on Tuesday. The stock’s 50 day simple moving average is $74.15 and its 200 day simple moving average is $67.53. Grayscale Bitcoin Trust has a 12-month low of $39.56 and a 12-month high of $86.11. The firm has a market cap of $17.10 billion, a P/E ratio of 2.23 and a beta of 2.59.

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.