Financial Management Professionals Inc. Invests $2.27 Million in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Financial Management Professionals Inc. acquired a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, HoldingsChannel reports. The institutional investor acquired 35,929 shares of the company’s stock, valued at approximately $2,270,000.

Other institutional investors also recently made changes to their positions in the company. Harbor Investment Advisory LLC bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth approximately $34,000. PFS Partners LLC bought a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $50,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at approximately $59,000. Future Financial Wealth Managment LLC bought a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $63,000. Finally, Roble Belko & Company Inc bought a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $65,000.

Grayscale Bitcoin Trust Trading Down 2.3 %

Shares of GBTC stock opened at $53.24 on Friday. The stock has a market cap of $27.19 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock has a 50 day simple moving average of $58.01 and a 200 day simple moving average of $51.41. Grayscale Bitcoin Trust has a 1 year low of $17.00 and a 1 year high of $65.61.

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.