Sequoia Financial Advisors LLC Sells 64,021 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sequoia Financial Advisors LLC lowered its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 35.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 116,047 shares of the company’s stock after selling 64,021 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $8,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GBTC. Proficio Capital Partners LLC raised its holdings in shares of Grayscale Bitcoin Trust by 4,462.7% in the 4th quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock valued at $155,735,000 after acquiring an additional 2,057,850 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter valued at about $19,360,000. SLT Holdings LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter valued at about $10,203,000. Citrine Capital LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter valued at about $7,721,000. Finally, Variant Private Wealth LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter valued at about $7,113,000.

Grayscale Bitcoin Trust Stock Down 0.2 %

NYSEARCA:GBTC opened at $65.57 on Thursday. The business’s 50-day moving average price is $75.72 and its two-hundred day moving average price is $66.31. Grayscale Bitcoin Trust has a twelve month low of $39.56 and a twelve month high of $86.11. The stock has a market cap of $16.22 billion, a P/E ratio of 2.23 and a beta of 2.59.

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.