Sandy Spring Bank Sells 1,140 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sandy Spring Bank trimmed its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 56.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 879 shares of the company’s stock after selling 1,140 shares during the quarter. Sandy Spring Bank’s holdings in Grayscale Bitcoin Trust were worth $65,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Prospera Financial Services Inc grew its stake in Grayscale Bitcoin Trust by 26.7% during the third quarter. Prospera Financial Services Inc now owns 7,835 shares of the company’s stock worth $396,000 after buying an additional 1,650 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Grayscale Bitcoin Trust during the third quarter worth about $53,000. Meridian Wealth Management LLC acquired a new stake in Grayscale Bitcoin Trust during the third quarter worth about $1,177,000. Nwam LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the 3rd quarter valued at approximately $1,186,000. Finally, Flagstar Advisors Inc. boosted its stake in shares of Grayscale Bitcoin Trust by 2.7% in the 3rd quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock valued at $377,000 after purchasing an additional 196 shares in the last quarter.

Grayscale Bitcoin Trust Trading Down 0.3 %

GBTC opened at $66.32 on Friday. The company’s 50 day moving average is $74.24 and its 200-day moving average is $67.21. Grayscale Bitcoin Trust has a 1-year low of $39.56 and a 1-year high of $86.11. The company has a market cap of $16.41 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.