Parallel Advisors LLC Reduces Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Parallel Advisors LLC trimmed its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,173 shares of the company’s stock after selling 181 shares during the period. Parallel Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $383,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GBTC. Wealth Quarterback LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at $215,000. RFG Advisory LLC acquired a new stake in Grayscale Bitcoin Trust in the 4th quarter worth about $262,000. Arkadios Wealth Advisors purchased a new stake in Grayscale Bitcoin Trust in the 4th quarter valued at about $245,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $692,000. Finally, Mutual Advisors LLC lifted 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.

Grayscale Bitcoin Trust Stock Performance

Grayscale Bitcoin Trust stock opened at $66.32 on Friday. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11. The firm has a 50 day moving average price of $74.24 and a 200 day moving average price of $67.06. The company has a market cap of $16.41 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59.

Grayscale Bitcoin Trust Profile

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.