Prairie Wealth Advisors Inc. Increases Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Prairie Wealth Advisors Inc. grew its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,613 shares of the company’s stock after buying an additional 430 shares during the quarter. Grayscale Bitcoin Trust comprises approximately 0.8% of Prairie Wealth Advisors Inc.’s holdings, making the stock its 21st largest holding. Prairie Wealth Advisors Inc.’s holdings in Grayscale Bitcoin Trust were worth $1,674,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in GBTC. Mutual Advisors LLC lifted its holdings in Grayscale Bitcoin Trust by 2.0% in the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock worth $583,000 after buying an additional 146 shares during the period. Synovus Financial Corp lifted its stake in Grayscale Bitcoin Trust by 0.8% in the third quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after acquiring an additional 169 shares during the period. Flagstar Advisors Inc. boosted its holdings in Grayscale Bitcoin Trust by 2.7% in the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock valued at $377,000 after acquiring an additional 196 shares in the last quarter. Choreo LLC boosted its holdings in Grayscale Bitcoin Trust by 0.8% in the fourth quarter. Choreo LLC now owns 27,301 shares of the company’s stock valued at $2,026,000 after acquiring an additional 212 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in Grayscale Bitcoin Trust by 5.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 4,324 shares of the company’s stock valued at $320,000 after purchasing an additional 224 shares during the period.

Grayscale Bitcoin Trust Trading Down 0.4 %

NYSEARCA:GBTC opened at $76.78 on Friday. The company has a 50-day moving average price of $78.58 and a 200-day moving average price of $62.57. The stock has a market cap of $39.21 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12 month low of $38.29 and a 12 month high of $86.11.

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.