Moors & Cabot Inc. Has $26.84 Million Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Moors & Cabot Inc. lessened its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 1.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 362,665 shares of the company’s stock after selling 6,310 shares during the period. Grayscale Bitcoin Trust makes up 1.3% of Moors & Cabot Inc.’s holdings, making the stock its 9th biggest holding. Moors & Cabot Inc.’s holdings in Grayscale Bitcoin Trust were worth $26,844,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in Grayscale Bitcoin Trust by 4,462.7% during the fourth quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock worth $155,735,000 after buying an additional 2,057,850 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $19,360,000. Foundations Investment Advisors LLC grew its holdings in Grayscale Bitcoin Trust by 25.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 143,835 shares of the company’s stock worth $10,647,000 after purchasing an additional 29,389 shares during the period. SLT Holdings LLC acquired a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $10,203,000. Finally, Brookstone Capital Management grew its holdings in Grayscale Bitcoin Trust by 1.3% in the fourth quarter. Brookstone Capital Management now owns 128,233 shares of the company’s stock worth $9,492,000 after purchasing an additional 1,612 shares during the period.

Grayscale Bitcoin Trust Trading Up 5.2 %

NYSEARCA:GBTC opened at $65.70 on Wednesday. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. The firm has a fifty day simple moving average of $75.89 and a two-hundred day simple moving average of $66.31. Grayscale Bitcoin Trust has a 12 month low of $39.56 and a 12 month 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.