Axxcess Wealth Management LLC Decreases Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Axxcess Wealth Management LLC lowered its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 5.8% during the third quarter, HoldingsChannel reports. The firm owned 7,768 shares of the company’s stock after selling 477 shares during the period. Axxcess Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOKF NA purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth $57,000. Atomi Financial Group Inc. purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth $208,000. Avantax Advisory Services Inc. purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth $1,200,000. Bleakley Financial Group LLC raised its holdings in shares of Grayscale Bitcoin Trust by 2.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 60,389 shares of the company’s stock worth $3,050,000 after acquiring an additional 1,349 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth about $317,000.

Grayscale Bitcoin Trust Trading Up 0.1 %

Shares of NYSEARCA:GBTC opened at $71.31 on Thursday. The business has a 50-day moving average price of $52.06 and a 200 day moving average price of $53.69. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12-month low of $27.30 and a 12-month high of $74.36.

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.