Strategic Financial Concepts LLC Takes $19.36 Million Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Strategic Financial Concepts LLC acquired a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 261,546 shares of the company’s stock, valued at approximately $19,360,000. Strategic Financial Concepts LLC owned approximately 0.05% of Grayscale Bitcoin Trust as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its holdings in shares of Grayscale Bitcoin Trust by 2.0% during the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock worth $583,000 after acquiring an additional 146 shares during the period. Synovus Financial Corp raised its stake in Grayscale Bitcoin Trust by 0.8% during the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after purchasing an additional 169 shares during the period. Flagstar Advisors Inc. boosted its holdings in Grayscale Bitcoin Trust by 2.7% in the 3rd quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock valued at $377,000 after purchasing an additional 196 shares during the last quarter. Choreo LLC grew its stake in shares of Grayscale Bitcoin Trust by 0.8% in the 4th quarter. Choreo LLC now owns 27,301 shares of the company’s stock valued at $2,026,000 after buying an additional 212 shares during the period. Finally, Cornerstone Wealth Management LLC increased its holdings in shares of Grayscale Bitcoin Trust by 5.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 4,324 shares of the company’s stock worth $320,000 after buying an additional 224 shares during the last quarter.

Grayscale Bitcoin Trust Stock Performance

GBTC stock opened at $75.85 on Friday. Grayscale Bitcoin Trust has a one year low of $39.56 and a one year high of $86.11. The firm has a market cap of $38.74 billion, a PE ratio of 2.29 and a beta of 1.25. The firm’s 50 day moving average price is $78.57 and its 200-day moving average price is $62.66.

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.