Acorn Financial Advisory Services Inc. ADV Trims Stock Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Acorn Financial Advisory Services Inc. ADV lessened its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 9.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,262 shares of the company’s stock after selling 1,055 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Grayscale Bitcoin Trust were worth $518,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. DHJJ Financial Advisors Ltd. acquired a new position in shares of Grayscale Bitcoin Trust in the 2nd quarter valued at $26,000. Global Wealth Strategies & Associates acquired a new position in shares of Grayscale Bitcoin Trust in the 2nd quarter valued at $27,000. ZRC Wealth Management LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 2nd quarter valued at $29,000. West Oak Capital LLC increased its stake in Grayscale Bitcoin Trust by 100.0% in the 3rd quarter. West Oak Capital LLC now owns 640 shares of the company’s stock valued at $32,000 after buying an additional 320 shares during the period. Finally, Avondale Wealth Management purchased a new position in Grayscale Bitcoin Trust during the 2nd quarter worth $33,000.

Grayscale Bitcoin Trust Stock Performance

Grayscale Bitcoin Trust stock traded up $0.17 during trading hours on Friday, reaching $61.05. 2,835,220 shares of the stock were exchanged, compared to its average volume of 9,058,080. The stock has a market cap of $31.18 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 52-week low of $27.30 and a 52-week high of $65.61. The firm’s 50 day moving average is $51.11 and its 200 day moving average is $53.56.

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.