Brown Brothers Harriman & Co. Sells 8,039 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Brown Brothers Harriman & Co. trimmed its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 79.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,071 shares of the company’s stock after selling 8,039 shares during the period. Brown Brothers Harriman & Co.’s holdings in Grayscale Bitcoin Trust were worth $153,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its position in shares of Grayscale Bitcoin Trust by 0.9% during the fourth quarter. Rothschild Investment LLC now owns 14,490 shares of the company’s stock worth $1,073,000 after purchasing an additional 130 shares in the last quarter. Activest Wealth Management grew its stake in Grayscale Bitcoin Trust by 53.0% during the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after buying an additional 140 shares during the last quarter. Mutual Advisors LLC grew its stake in 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 buying an additional 146 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its position in Grayscale Bitcoin Trust by 1.0% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 16,906 shares of the company’s stock valued at $1,251,000 after buying an additional 165 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Grayscale Bitcoin Trust by 0.8% in the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock valued at $1,058,000 after buying an additional 169 shares during the last quarter.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC stock opened at $67.16 on Wednesday. Grayscale Bitcoin Trust has a fifty-two week low of $39.56 and a fifty-two week high of $86.11. The firm has a market capitalization of $16.46 billion, a price-to-earnings ratio of 2.23 and a beta of 2.59. The stock’s 50-day simple moving average is $72.56 and its 200-day simple moving average is $68.46.

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.