Newbridge Financial Services Group Inc. Cuts Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Newbridge Financial Services Group Inc. reduced its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 18.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,244 shares of the company’s stock after selling 3,966 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Grayscale Bitcoin Trust were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GBTC. Aristides Capital LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter worth $522,000. Able Wealth Management LLC bought a new stake in Grayscale Bitcoin Trust during the 4th quarter valued at about $194,000. Garde Capital Inc. purchased a new position in Grayscale Bitcoin Trust in the fourth quarter worth about $602,000. Enterprise Bank & Trust Co purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $243,000. Finally, BCS Wealth Management bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $581,000.

Grayscale Bitcoin Trust Trading Down 2.7 %

GBTC stock opened at $49.12 on Wednesday. The stock’s 50 day simple moving average is $48.86 and its 200 day simple moving average is $54.70. Grayscale Bitcoin Trust has a 12-month low of $19.19 and a 12-month high of $65.61. The stock has a market capitalization of $25.09 billion, a PE 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.