Enterprise Bank & Trust Co Buys Shares of 3,700 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Enterprise Bank & Trust Co bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,700 shares of the company’s stock, valued at approximately $274,000.

Other large investors have also modified their holdings of the company. Synovus Financial Corp boosted its stake in shares of Grayscale Bitcoin Trust by 0.8% during the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock valued at $1,058,000 after purchasing an additional 169 shares in the last quarter. Flagstar Advisors Inc. boosted its stake in shares of Grayscale Bitcoin Trust by 2.7% during the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock valued at $377,000 after purchasing an additional 196 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Grayscale Bitcoin Trust by 6.7% during the third quarter. Cornerstone Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $207,000 after purchasing an additional 257 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Grayscale Bitcoin Trust by 6.3% during the third quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock valued at $235,000 after purchasing an additional 276 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its stake in Grayscale Bitcoin Trust by 3.4% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 9,612 shares of the company’s stock valued at $485,000 after acquiring an additional 315 shares in the last quarter.

Grayscale Bitcoin Trust Stock Performance

GBTC traded down $2.27 during trading on Monday, hitting $72.81. The stock had a trading volume of 2,838,354 shares, compared to its average volume of 3,199,495. The company has a market capitalization of $37.18 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a twelve month low of $34.31 and a twelve month high of $86.11. The stock has a 50 day simple moving average of $74.55 and a two-hundred day simple moving average of $59.27.

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.