Retirement Planning Co of New England Inc. Trims Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Retirement Planning Co of New England Inc. reduced its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 38.4% in the 4th quarter, Holdings Channel reports. The fund owned 5,455 shares of the company’s stock after selling 3,402 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Grayscale Bitcoin Trust were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its position in shares of Grayscale Bitcoin Trust by 310.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after buying an additional 310 shares in the last quarter. Activest Wealth Management increased its position in shares of Grayscale Bitcoin Trust by 53.0% in the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after buying an additional 140 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at approximately $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at approximately $36,000. Finally, Bear Mountain Capital Inc. increased its position in shares of Grayscale Bitcoin Trust by 162.5% in the fourth quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock valued at $43,000 after buying an additional 325 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA:GBTC opened at $66.81 on Tuesday. The business’s 50 day moving average price is $74.94 and its 200-day moving average price is $66.80. The firm has a market capitalization of $16.53 billion, a PE ratio of 2.23 and a beta of 2.59. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11.

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.