J.W. Cole Advisors Inc. Boosts Holdings in Grayscale Bitcoin Trust ETF $GBTC

J.W. Cole Advisors Inc. raised its holdings in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 35.2% in the second quarter, Holdings Channel reports. The institutional investor owned 10,657 shares of the company’s stock after acquiring an additional 2,774 shares during the period. J.W. Cole Advisors Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Palacios Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF during the 1st quarter worth $65,170,000. DRW Securities LLC increased its stake in Grayscale Bitcoin Trust ETF by 849.0% in the 1st quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock worth $24,151,000 after buying an additional 331,538 shares in the last quarter. Cresset Asset Management LLC increased its stake in Grayscale Bitcoin Trust ETF by 27.0% in the 1st quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock worth $19,549,000 after buying an additional 63,749 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Grayscale Bitcoin Trust ETF by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 256,572 shares of the company’s stock worth $16,721,000 after buying an additional 7,752 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in Grayscale Bitcoin Trust ETF by 0.4% during the first quarter. Foundations Investment Advisors LLC now owns 144,456 shares of the company’s stock valued at $9,414,000 after acquiring an additional 621 shares during the period.

Grayscale Bitcoin Trust ETF Stock Down 3.1%

Shares of Grayscale Bitcoin Trust ETF stock opened at $80.47 on Wednesday. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. The stock’s 50-day simple moving average is $88.19 and its 200-day simple moving average is $86.86. Grayscale Bitcoin Trust ETF has a 52 week low of $59.79 and a 52 week high of $99.12.

Grayscale Bitcoin Trust ETF 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.