Cornerstone Wealth Group LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Cornerstone Wealth Group LLC acquired a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,841 shares of the company’s stock, valued at approximately $284,000.

Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can lifted its stake in Grayscale Bitcoin Trust by 80.5% in the second quarter. Bank of Montreal Can now owns 19,128 shares of the company’s stock worth $1,057,000 after purchasing an additional 8,533 shares during the last quarter. Ascent Group LLC purchased a new stake in Grayscale Bitcoin Trust during the 2nd quarter valued at about $215,000. Creative Planning grew its position in Grayscale Bitcoin Trust by 1.3% during the 2nd quarter. Creative Planning now owns 82,857 shares of the company’s stock worth $4,411,000 after acquiring an additional 1,074 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Grayscale Bitcoin Trust by 8.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 4,322 shares of the company’s stock worth $230,000 after purchasing an additional 350 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Grayscale Bitcoin Trust in the second quarter valued at approximately $2,158,000.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA:GBTC opened at $80.25 on Tuesday. Grayscale Bitcoin Trust has a fifty-two week low of $37.31 and a fifty-two week high of $86.11. The business has a 50 day moving average price of $77.79 and a 200-day moving average price of $61.23. The firm has a market cap of $40.98 billion, a PE ratio of 2.29 and a beta of 1.25.

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.