IAM Advisory LLC Invests $282,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

IAM Advisory LLC bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,813 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also made changes to their positions in GBTC. Armstrong Advisory Group Inc. increased its stake in Grayscale Bitcoin Trust by 310.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after buying an additional 310 shares during the period. West Oak Capital LLC increased its position in shares of Grayscale Bitcoin Trust by 100.0% during the third quarter. West Oak Capital LLC now owns 640 shares of the company’s stock worth $32,000 after acquiring an additional 320 shares during the period. Hollencrest Capital Management raised its stake in shares of Grayscale Bitcoin Trust by 88.9% during the second quarter. Hollencrest Capital Management now owns 850 shares of the company’s stock valued at $45,000 after acquiring an additional 400 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC bought a new position in Grayscale Bitcoin Trust in the third quarter worth approximately $50,000.

Grayscale Bitcoin Trust Stock Up 4.4 %

GBTC opened at $83.05 on Friday. Grayscale Bitcoin Trust has a 52 week low of $34.31 and a 52 week high of $86.11. The company has a market capitalization of $42.41 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock’s fifty day moving average is $76.57 and its two-hundred day moving average is $60.07.

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.