J.W. Cole Advisors Inc. Decreases Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

J.W. Cole Advisors Inc. lessened its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 12.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,844 shares of the company’s stock after selling 1,145 shares during the period. J.W. Cole Advisors Inc.’s holdings in Grayscale Bitcoin Trust were worth $418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors bought a new stake in Grayscale Bitcoin Trust in the 1st quarter valued at about $95,000. BOKF NA purchased a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at approximately $57,000. SeaCrest Wealth Management LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $370,000. Opal Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Trust in the 1st quarter valued at approximately $262,000. Finally, Level Financial Advisors bought a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at $255,000.

Grayscale Bitcoin Trust Price Performance

NYSEARCA:GBTC opened at $47.76 on Wednesday. Grayscale Bitcoin Trust has a 1 year low of $18.04 and a 1 year high of $65.61. The stock’s fifty day moving average price is $49.97 and its two-hundred day moving average price is $55.48. The company has a market cap of $24.39 billion, a P/E ratio of 2.29 and a beta of 1.25.

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.