Sequoia Financial Advisors LLC Invests $11.05 Million in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Sequoia Financial Advisors LLC bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 174,976 shares of the company’s stock, valued at approximately $11,053,000.

Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in Grayscale Bitcoin Trust in the first quarter worth about $1,393,000. Consolidated Portfolio Review Corp purchased a new position in Grayscale Bitcoin Trust in the first quarter worth about $1,112,000. J.W. Cole Advisors Inc. purchased a new position in Grayscale Bitcoin Trust in the first quarter worth about $566,000. Stephenson & Company Inc. purchased a new position in Grayscale Bitcoin Trust in the first quarter worth about $526,000. Finally, Cutter & CO Brokerage Inc. purchased a new position in Grayscale Bitcoin Trust in the first quarter worth about $246,000.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA:GBTC traded down $3.51 during trading hours on Friday, hitting $50.15. 7,828,492 shares of the company’s stock traded hands, compared to its average volume of 12,593,462. Grayscale Bitcoin Trust has a 1 year low of $17.00 and a 1 year high of $65.61. The business has a fifty day moving average price of $57.59 and a 200-day moving average price of $51.91. The firm has a market capitalization of $25.61 billion, a P/E 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.