HFG Wealth Management LLC Has $8.55 Million Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

HFG Wealth Management LLC lessened its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 25.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 160,617 shares of the company’s stock after selling 55,143 shares during the quarter. Grayscale Bitcoin Trust makes up approximately 5.4% of HFG Wealth Management LLC’s portfolio, making the stock its 7th largest holding. HFG Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $8,551,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GBTC. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Grayscale Bitcoin Trust in the 2nd quarter valued at $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Grayscale Bitcoin Trust in the first quarter worth about $27,000. Global Wealth Strategies & Associates bought a new stake in shares of Grayscale Bitcoin Trust during the 2nd quarter worth about $27,000. YHB Investment Advisors Inc. acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $28,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at approximately $28,000.

Grayscale Bitcoin Trust Stock Down 3.5 %

Shares of Grayscale Bitcoin Trust stock opened at $50.50 on Tuesday. Grayscale Bitcoin Trust has a 12-month low of $19.19 and a 12-month high of $65.61. The stock has a 50 day moving average price of $49.24 and a two-hundred day moving average price of $54.87. The stock has a market capitalization of $25.79 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.