Financial Management Professionals Inc. Sells 995 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Financial Management Professionals Inc. decreased its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,479 shares of the company’s stock after selling 995 shares during the quarter. Financial Management Professionals Inc.’s holdings in Grayscale Bitcoin Trust were worth $1,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. DHJJ Financial Advisors Ltd. purchased a new position in shares of Grayscale Bitcoin Trust during the second quarter valued at about $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter worth about $27,000. Global Wealth Strategies & Associates bought a new position in Grayscale Bitcoin Trust during the second quarter valued at approximately $27,000. Toth Financial Advisory Corp purchased a new position in Grayscale Bitcoin Trust during the 1st quarter valued at approximately $28,000. Finally, Hollencrest Capital Management bought a new stake in Grayscale Bitcoin Trust in the 1st quarter worth approximately $28,000.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA GBTC opened at $53.09 on Friday. The company has a market capitalization of $27.11 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock has a 50 day moving average price of $49.34 and a 200-day moving average price of $53.61. Grayscale Bitcoin Trust has a one year low of $24.85 and a one year 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.