Summit X LLC Buys New Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Summit X LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,220 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. raised its holdings in Grayscale Bitcoin Trust by 310.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after acquiring an additional 310 shares in the last quarter. Activest Wealth Management raised its holdings in Grayscale Bitcoin Trust by 53.0% during the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock worth $30,000 after purchasing an additional 140 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in Grayscale Bitcoin Trust during the fourth quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new stake in Grayscale Bitcoin Trust during the fourth quarter worth approximately $36,000. Finally, Bear Mountain Capital Inc. raised its holdings in Grayscale Bitcoin Trust by 162.5% during the fourth quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock worth $43,000 after purchasing an additional 325 shares in the last quarter.

Grayscale Bitcoin Trust Trading Down 0.2 %

GBTC stock opened at $65.57 on Thursday. Grayscale Bitcoin Trust has a twelve month low of $39.56 and a twelve month high of $86.11. The company’s 50 day moving average is $75.72 and its two-hundred day moving average is $66.31. The stock has a market cap of $16.22 billion, a P/E ratio of 2.23 and a beta of 2.59.

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.