Malaga Cove Capital LLC Decreases Stock Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Malaga Cove Capital LLC reduced its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,659 shares of the company’s stock after selling 1,255 shares during the quarter. Malaga Cove Capital LLC’s holdings in Grayscale Bitcoin Trust were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. NorthRock Partners LLC purchased a new position in Grayscale Bitcoin Trust in the fourth quarter valued at about $838,000. Measured Risk Portfolios Inc. bought a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth approximately $32,000. Millennium Management LLC raised its holdings in shares of Grayscale Bitcoin Trust by 66.2% in the 4th quarter. Millennium Management LLC now owns 166,177 shares of the company’s stock worth $12,300,000 after purchasing an additional 66,177 shares during the period. MJP Associates Inc. ADV purchased a new position in Grayscale Bitcoin Trust in the fourth quarter valued at approximately $245,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in Grayscale Bitcoin Trust in the fourth quarter worth $34,353,000.

Grayscale Bitcoin Trust Price Performance

Shares of GBTC opened at $82.73 on Wednesday. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11. The stock’s fifty day moving average price is $69.35 and its two-hundred day moving average price is $72.66. The firm has a market cap of $19.96 billion, a PE ratio of 2.23 and a beta of 2.51.

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.