Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Up – Should You Buy?

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $66.61, but opened at $73.72. Grayscale Bitcoin Trust shares last traded at $71.82, with a volume of 1,506,785 shares traded.

Grayscale Bitcoin Trust Stock Up 4.1 %

The stock has a market capitalization of $18.09 billion, a PE ratio of 2.23 and a beta of 2.51. The business’s 50-day moving average is $76.67 and its two-hundred day moving average is $65.63.

Institutional Trading of Grayscale Bitcoin Trust

A number of large investors have recently made changes to their positions in the company. Synergy Investment Management LLC purchased a new position in shares of Grayscale Bitcoin Trust during the fourth quarter worth approximately $30,000. Activest Wealth Management boosted its stake in shares of Grayscale Bitcoin Trust by 53.0% during the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after buying an additional 140 shares during the period. Armstrong Advisory Group Inc. boosted its stake in shares of Grayscale Bitcoin Trust by 310.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after buying an additional 310 shares during the period. Pacific Center for Financial Services purchased a new position in shares of Grayscale Bitcoin Trust during the fourth quarter worth about $31,000. Finally, Measured Risk Portfolios Inc. acquired a new position in Grayscale Bitcoin Trust in the 4th quarter valued at about $32,000.

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.