Objective Capital Management LLC Takes $268,000 Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Objective Capital Management LLC bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,250 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Grayscale Bitcoin Trust in the 1st quarter worth approximately $27,000. Toth Financial Advisory Corp purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth $28,000. YHB Investment Advisors Inc. acquired a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $28,000. Hollencrest Capital Management purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at $28,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at $32,000.

Grayscale Bitcoin Trust Stock Performance

GBTC stock traded down $0.66 during midday trading on Friday, reaching $49.87. The stock had a trading volume of 6,189,244 shares, compared to its average volume of 11,509,163. The firm has a fifty day simple moving average of $56.83 and a two-hundred day simple moving average of $54.46. Grayscale Bitcoin Trust has a 52-week low of $17.00 and a 52-week high of $65.61. The stock has a market cap of $25.47 billion, a PE ratio of 2.29 and a beta of 1.25.

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.