IPG Investment Advisors LLC Sells 1,912 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

IPG Investment Advisors LLC lessened its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 28.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,899 shares of the company’s stock after selling 1,912 shares during the period. IPG Investment Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GBTC. Wealth Quarterback LLC bought a new position in Grayscale Bitcoin Trust in the fourth quarter worth approximately $215,000. RFG Advisory LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth $262,000. Arkadios Wealth Advisors purchased a new position in Grayscale Bitcoin Trust during the fourth quarter valued at $245,000. U.S. Capital Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Trust during the fourth quarter valued at $692,000. Finally, Mutual Advisors LLC grew its holdings in Grayscale Bitcoin Trust by 2.0% during the fourth quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock valued at $583,000 after purchasing an additional 146 shares during the period.

Grayscale Bitcoin Trust Stock Down 3.8 %

NYSEARCA GBTC opened at $66.18 on Friday. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The company has a market capitalization of $16.22 billion, a P/E ratio of 2.23 and a beta of 2.59. The stock’s 50-day moving average price is $73.26 and its 200-day moving average price is $68.03.

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.