Balboa Wealth Partners Invests $295,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Balboa Wealth Partners bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,990 shares of the company’s stock, valued at approximately $295,000.

Other hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its holdings in Grayscale Bitcoin Trust by 5.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,881 shares of the company’s stock valued at $1,324,000 after purchasing an additional 849 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Grayscale Bitcoin Trust by 403.8% in the 4th quarter. Farther Finance Advisors LLC now owns 18,458 shares of the company’s stock valued at $1,366,000 after purchasing an additional 14,794 shares in the last quarter. Knuff & Co LLC bought a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth about $130,000. Summit X LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth about $238,000. Finally, Prosperity Wealth Management Inc. bought a new position in Grayscale Bitcoin Trust during the 4th quarter valued at about $234,000.

Grayscale Bitcoin Trust Trading Down 3.3 %

Shares of Grayscale Bitcoin Trust stock opened at $63.38 on Friday. The stock has a market capitalization of $15.68 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. The firm’s 50-day moving average price is $75.45 and its two-hundred day moving average price is $66.29. 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.