Cornerstone Advisory LLC Acquires Shares of 2,643 Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Cornerstone Advisory LLC bought a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, HoldingsChannel reports. The firm bought 2,643 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC raised its stake in Grayscale Bitcoin Trust by 16.8% during the fourth quarter. Park Avenue Securities LLC now owns 8,378 shares of the company’s stock valued at $620,000 after buying an additional 1,203 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in Grayscale Bitcoin Trust in the 4th quarter worth approximately $245,000. UMB Bank n.a. lifted its position in Grayscale Bitcoin Trust by 104.3% in the 4th quarter. UMB Bank n.a. now owns 4,777 shares of the company’s stock valued at $354,000 after acquiring an additional 2,439 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in Grayscale Bitcoin Trust in the 4th quarter valued at approximately $217,000. Finally, Kelleher Financial Advisors boosted its stake in Grayscale Bitcoin Trust by 37.6% during the 4th quarter. Kelleher Financial Advisors now owns 7,861 shares of the company’s stock valued at $582,000 after purchasing an additional 2,150 shares during the last quarter.

Grayscale Bitcoin Trust Trading Up 2.3%

Grayscale Bitcoin Trust stock opened at $87.72 on Friday. The firm has a market cap of $21.17 billion, a price-to-earnings ratio of 2.23 and a beta of 2.51. Grayscale Bitcoin Trust has a 12 month low of $39.56 and a 12 month high of $88.36. The stock has a fifty day simple moving average of $71.89 and a two-hundred day simple moving average of $73.90.

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.