Convergence Financial LLC Sells 3,904 Shares of Grayscale Bitcoin Trust ETF $GBTC

Convergence Financial LLC trimmed its stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,639 shares of the company’s stock after selling 3,904 shares during the quarter. Convergence Financial LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $4,381,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GBTC. First Horizon Advisors Inc. boosted its holdings in shares of Grayscale Bitcoin Trust ETF by 90.9% in the 1st quarter. First Horizon Advisors Inc. now owns 420 shares of the company’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Hurley Capital LLC acquired a new position in Grayscale Bitcoin Trust ETF during the first quarter worth $34,000. Flaharty Asset Management LLC bought a new stake in Grayscale Bitcoin Trust ETF during the first quarter worth $39,000. Cornerstone Planning Group LLC lifted its stake in Grayscale Bitcoin Trust ETF by 600.0% in the first quarter. Cornerstone Planning Group LLC now owns 875 shares of the company’s stock valued at $57,000 after acquiring an additional 750 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Grayscale Bitcoin Trust ETF by 227.0% in the 1st quarter. Headlands Technologies LLC now owns 1,128 shares of the company’s stock valued at $74,000 after acquiring an additional 783 shares during the period.

Grayscale Bitcoin Trust ETF Price Performance

Grayscale Bitcoin Trust ETF stock opened at $78.87 on Wednesday. The company’s 50-day moving average is $88.74 and its 200-day moving average is $86.57. The firm has a market capitalization of $18.99 billion, a PE ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a fifty-two week low of $54.64 and a fifty-two week high of $99.12.

Grayscale Bitcoin Trust ETF Company 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.