Schneider Downs Wealth Management Advisors LP Acquires 1,500 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Schneider Downs Wealth Management Advisors LP grew its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,185 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Grayscale Bitcoin Trust were worth $828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. lifted its holdings 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 worth $30,000 after buying an additional 310 shares in the last quarter. Activest Wealth Management raised its stake in 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 purchasing an additional 140 shares in the last quarter. Bear Mountain Capital Inc. raised its stake in 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 purchasing an additional 325 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Grayscale Bitcoin Trust in the third quarter valued at approximately $53,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Grayscale Bitcoin Trust in the third quarter valued at approximately $56,000.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC opened at $66.71 on Thursday. The firm’s 50 day simple moving average is $77.38 and its 200 day simple moving average is $64.94. The company has a market capitalization of $16.86 billion, a P/E ratio of 2.23 and a beta of 2.51. 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.