Convergence Financial LLC Sells 927 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Convergence Financial LLC decreased its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,700 shares of the company’s stock after selling 927 shares during the period. Grayscale Bitcoin Trust accounts for about 0.9% of Convergence Financial LLC’s holdings, making the stock its 27th biggest position. Convergence Financial LLC’s holdings in Grayscale Bitcoin Trust were worth $4,271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GBTC. Greenwich Wealth Management LLC increased its stake in shares of Grayscale Bitcoin Trust by 99.9% during the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock worth $54,379,000 after purchasing an additional 538,256 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at $19,360,000. Citrine Capital LLC bought a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter valued at $7,721,000. Variant Private Wealth LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at $7,113,000. Finally, Larson Financial Group LLC grew its stake in shares of Grayscale Bitcoin Trust by 204.3% during the 3rd quarter. Larson Financial Group LLC now owns 102,433 shares of the company’s stock worth $5,173,000 after acquiring an additional 68,768 shares during the period.

Grayscale Bitcoin Trust Stock Performance

Shares of Grayscale Bitcoin Trust stock opened at $66.71 on Thursday. The stock has a market capitalization of $16.86 billion, a P/E ratio of 2.23 and a beta of 2.51. Grayscale Bitcoin Trust has a 52-week low of $39.56 and a 52-week high of $86.11. The stock’s 50-day simple moving average is $77.38 and its 200 day simple moving average is $64.94.

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.