Grayscale Bitcoin Trust (NYSEARCA:GBTC) Stock Position Raised by Beam Wealth Advisors Inc.

Beam Wealth Advisors Inc. lifted its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,798 shares of the company’s stock after buying an additional 1,561 shares during the quarter. Beam Wealth Advisors Inc.’s holdings in Grayscale Bitcoin Trust were worth $848,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management increased its position in Grayscale Bitcoin Trust by 40.6% during the third quarter. Hollencrest Capital Management now owns 1,195 shares of the company’s stock worth $60,000 after buying an additional 345 shares during the last quarter. WoodTrust Financial Corp bought a new stake in shares of Grayscale Bitcoin Trust during the 3rd quarter worth about $238,000. Malaga Cove Capital LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 3rd quarter valued at about $753,000. American Capital Advisory LLC bought a new position in shares of Grayscale Bitcoin Trust in the 3rd quarter valued at approximately $316,000. Finally, Clarity Financial LLC acquired a new stake in Grayscale Bitcoin Trust in the 3rd quarter worth approximately $1,502,000.

Grayscale Bitcoin Trust Stock Up 0.3 %

Shares of GBTC stock opened at $61.05 on Monday. Grayscale Bitcoin Trust has a 12 month low of $27.30 and a 12 month high of $65.61. The company has a market cap of $31.18 billion, a PE ratio of 2.29 and a beta of 1.25. The business’s 50 day moving average is $51.11 and its two-hundred day moving average is $53.53.

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.