Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,585 shares of the company’s stock after selling 450 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Grayscale Bitcoin Trust were worth $138,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in GBTC. Jane Street Group LLC purchased a new stake in Grayscale Bitcoin Trust in the first quarter valued at $117,350,000. Farallon Capital Management LLC acquired a new stake in Grayscale Bitcoin Trust during the first quarter worth about $85,221,000. Sloy Dahl & Holst LLC acquired a new stake in Grayscale Bitcoin Trust during the first quarter worth about $32,959,000. Bracebridge Capital LLC acquired a new position in Grayscale Bitcoin Trust in the first quarter valued at approximately $26,526,000. Finally, Mad River Investors acquired a new position in Grayscale Bitcoin Trust in the first quarter valued at approximately $25,251,000.
Grayscale Bitcoin Trust Price Performance
Shares of NYSEARCA GBTC opened at $47.47 on Friday. The stock has a market capitalization of $24.24 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The firm’s 50 day simple moving average is $47.89 and its 200-day simple moving average is $54.30. Grayscale Bitcoin Trust has a 12 month low of $19.82 and a 12 month high of $65.61.
Grayscale Bitcoin Trust Company 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.
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