Valley National Advisers Inc. Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Valley National Advisers Inc. acquired a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 553 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Optimum Investment Advisors bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $95,000. Opal Wealth Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $262,000. Brookstone Capital Management bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $8,435,000. Grimes & Company Inc. bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $2,004,000. Finally, AdvisorNet Financial Inc bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $261,000.

Grayscale Bitcoin Trust Stock Down 2.3 %

Shares of NYSEARCA:GBTC traded down $1.24 during midday trading on Wednesday, reaching $53.65. 1,742,143 shares of the company traded hands, compared to its average volume of 12,631,063. Grayscale Bitcoin Trust has a 12 month low of $17.00 and a 12 month high of $65.61. The firm’s fifty day moving average price is $57.80 and its two-hundred day moving average price is $51.82. The firm has a market capitalization of $27.40 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

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.