Magnolia Capital Advisors LLC Takes $14.81 Million Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Magnolia Capital Advisors LLC acquired a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 278,180 shares of the company’s stock, valued at approximately $14,810,000. Magnolia Capital Advisors LLC owned about 0.05% of Grayscale Bitcoin Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at $27,000. Toth Financial Advisory Corp bought a new position in Grayscale Bitcoin Trust in the first quarter valued at about $28,000. YHB Investment Advisors Inc. purchased a new position in Grayscale Bitcoin Trust in the first quarter worth about $28,000. Hollencrest Capital Management bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $28,000. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in shares of Grayscale Bitcoin Trust during the 2nd quarter valued at about $26,000.

Grayscale Bitcoin Trust Trading Up 1.5 %

GBTC opened at $52.31 on Friday. The company’s 50 day moving average is $49.24 and its 200 day moving average is $55.01. The company has a market cap of $26.72 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12-month low of $18.20 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.