Cornerstone Wealth Management LLC Purchases 224 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Cornerstone Wealth Management LLC increased its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 5.5% in the 4th quarter, Holdings Channel reports. The fund owned 4,324 shares of the company’s stock after buying an additional 224 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $320,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of Grayscale Bitcoin Trust by 80.5% during the second quarter. Bank of Montreal Can now owns 19,128 shares of the company’s stock valued at $1,057,000 after acquiring an additional 8,533 shares in the last quarter. Ascent Group LLC bought a new position in shares of Grayscale Bitcoin Trust during the second quarter valued at $215,000. Magnolia Capital Advisors LLC bought a new stake in Grayscale Bitcoin Trust during the 2nd quarter valued at about $14,810,000. Creative Planning increased its stake in Grayscale Bitcoin Trust by 1.3% during the 2nd quarter. Creative Planning now owns 82,857 shares of the company’s stock valued at $4,411,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in Grayscale Bitcoin Trust by 8.8% during the 2nd quarter. Sunbelt Securities Inc. now owns 4,322 shares of the company’s stock valued at $230,000 after purchasing an additional 350 shares in the last quarter.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA:GBTC opened at $83.17 on Monday. The firm has a market cap of $42.48 billion, a P/E ratio of 2.29 and a beta of 1.25. The firm has a 50-day simple moving average of $77.79 and a two-hundred day simple moving average of $61.16. Grayscale Bitcoin Trust has a fifty-two week low of $35.24 and a fifty-two week high of $86.11.

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.