Moors & Cabot Inc. Decreases Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Moors & Cabot Inc. lowered its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 5.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 367,670 shares of the company’s stock after selling 19,360 shares during the quarter. Grayscale Bitcoin Trust comprises 1.0% of Moors & Cabot Inc.’s investment portfolio, making the stock its 12th biggest holding. Moors & Cabot Inc. owned about 0.07% of Grayscale Bitcoin Trust worth $19,575,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in Grayscale Bitcoin Trust in the first quarter valued at $27,000. Toth Financial Advisory Corp acquired a new stake in shares of Grayscale Bitcoin Trust in the 1st quarter valued at about $28,000. YHB Investment Advisors Inc. purchased a new position in Grayscale Bitcoin Trust during the 1st quarter worth approximately $28,000. Hollencrest Capital Management purchased a new stake in Grayscale Bitcoin Trust in the first quarter valued at approximately $28,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of Grayscale Bitcoin Trust in the second quarter valued at approximately $26,000.

Grayscale Bitcoin Trust Price Performance

Shares of Grayscale Bitcoin Trust stock opened at $46.15 on Tuesday. The firm’s fifty day simple moving average is $50.05 and its 200-day simple moving average is $55.54. Grayscale Bitcoin Trust has a 12 month low of $18.04 and a 12 month high of $65.61. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

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.