Stark Wealth Management LLC Takes Position in Grayscale Bitcoin Trust ETF $GBTC

Stark Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the second quarter, Holdings Channel reports. The firm purchased 14,850 shares of the company’s stock, valued at approximately $1,260,000. Grayscale Bitcoin Trust ETF comprises about 1.7% of Stark Wealth Management LLC’s holdings, making the stock its 12th largest holding.

Several other large investors also recently bought and sold shares of the business. Elevation Point Wealth Partners LLC purchased a new position in Grayscale Bitcoin Trust ETF in the 2nd quarter worth approximately $33,000. Flaharty Asset Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF in the 1st quarter worth $39,000. Atlantic Union Bankshares Corp purchased a new position in shares of Grayscale Bitcoin Trust ETF during the 2nd quarter worth $42,000. First Horizon Advisors Inc. boosted its position in shares of Grayscale Bitcoin Trust ETF by 36.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 575 shares of the company’s stock valued at $49,000 after acquiring an additional 155 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Grayscale Bitcoin Trust ETF by 34.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,318 shares of the company’s stock valued at $86,000 after purchasing an additional 341 shares during the period.

Grayscale Bitcoin Trust ETF Trading Down 1.7%

Grayscale Bitcoin Trust ETF stock opened at $70.58 on Friday. The company has a 50-day moving average price of $79.72 and a 200 day moving average price of $85.33. Grayscale Bitcoin Trust ETF has a 12-month low of $59.79 and a 12-month high of $99.12. The stock has a market cap of $16.99 billion, a P/E ratio of 2.23 and a beta of 2.40.

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.