Park Avenue Securities LLC Buys New Shares in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Park Avenue Securities LLC purchased a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,328 shares of the company’s stock, valued at approximately $463,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GBTC. Kathleen S. Wright Associates Inc. acquired a new position in shares of Grayscale Bitcoin Trust in the fourth quarter valued at $59,000. Winch Advisory Services LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 4th quarter valued at $66,000. Enterprise Bank & Trust Co bought a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth about $243,000. Able Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $194,000. Finally, Equitable Trust Co. bought a new stake in Grayscale Bitcoin Trust in the fourth quarter valued at about $203,000.

Grayscale Bitcoin Trust Stock Down 2.3 %

Shares of GBTC opened at $53.24 on Friday. The company has a 50-day moving average price of $58.01 and a two-hundred day moving average price of $51.41. The stock has a market cap of $27.19 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12 month low of $17.00 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.