Envestnet Asset Management Inc. Sells 21,349 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Envestnet Asset Management Inc. decreased its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 17.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 101,664 shares of the company’s stock after selling 21,349 shares during the period. Envestnet Asset Management Inc.’s holdings in Grayscale Bitcoin Trust were worth $7,525,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GBTC. Wilmington Savings Fund Society FSB lifted its holdings in Grayscale Bitcoin Trust by 233.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 22,630 shares of the company’s stock worth $1,143,000 after buying an additional 15,850 shares during the period. Synovus Financial Corp lifted its stake in Grayscale Bitcoin Trust by 0.8% in the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after acquiring an additional 169 shares during the period. Modus Advisors LLC bought a new stake in Grayscale Bitcoin Trust in the fourth quarter valued at $255,000. Fortem Financial Group LLC boosted its holdings in Grayscale Bitcoin Trust by 2.0% in the fourth quarter. Fortem Financial Group LLC now owns 25,250 shares of the company’s stock valued at $1,869,000 after acquiring an additional 500 shares in the last quarter. Finally, Advance Capital Management Inc. purchased a new position in Grayscale Bitcoin Trust during the 4th quarter valued at $227,000.

Grayscale Bitcoin Trust Trading Up 0.7 %

Shares of GBTC opened at $67.09 on Monday. Grayscale Bitcoin Trust has a 1-year low of $39.56 and a 1-year high of $86.11. The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 2.23 and a beta of 2.56. The firm’s 50-day moving average price is $68.18 and its 200-day moving average price is $69.95.

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.