Gallacher Capital Management LLC Reduces Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Gallacher Capital Management LLC reduced its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,038 shares of the company’s stock after selling 835 shares during the quarter. Grayscale Bitcoin Trust comprises about 1.1% of Gallacher Capital Management LLC’s portfolio, making the stock its 16th largest holding. Gallacher Capital Management LLC’s holdings in Grayscale Bitcoin Trust were worth $2,185,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GBTC. Asset Dedication LLC acquired a new position in Grayscale Bitcoin Trust during the 2nd quarter valued at approximately $40,000. Strategic Financial Concepts LLC increased its position in shares of Grayscale Bitcoin Trust by 4,689.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 184,686 shares of the company’s stock valued at $98,000 after acquiring an additional 180,830 shares during the period. Private Advisor Group LLC raised its stake in Grayscale Bitcoin Trust by 46.4% in the 2nd quarter. Private Advisor Group LLC now owns 32,295 shares of the company’s stock worth $1,720,000 after acquiring an additional 10,243 shares during the last quarter. Impact Partnership Wealth LLC lifted its position in Grayscale Bitcoin Trust by 136.1% during the 2nd quarter. Impact Partnership Wealth LLC now owns 4,550 shares of the company’s stock worth $242,000 after acquiring an additional 2,623 shares during the period. Finally, Larson Financial Group LLC grew its stake in Grayscale Bitcoin Trust by 39.6% during the 2nd quarter. Larson Financial Group LLC now owns 33,665 shares of the company’s stock valued at $1,792,000 after purchasing an additional 9,553 shares during the last quarter.

Grayscale Bitcoin Trust Stock Down 4.6 %

Shares of NYSEARCA:GBTC opened at $42.60 on Friday. Grayscale Bitcoin Trust has a 52-week low of $18.04 and a 52-week high of $65.61. The stock has a market cap of $21.76 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The business has a 50-day moving average price of $50.86 and a 200-day moving average price of $55.63.

Grayscale Bitcoin Trust 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.