Short Interest in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Decreases By 42.5%

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 523,899 shares, a drop of 42.5% from the December 15th total of 910,585 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 4,826,274 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 4,826,274 shares, the short-interest ratio is currently 0.1 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF

Hedge funds have recently bought and sold shares of the business. Kingswood Wealth Advisors LLC increased its holdings in Grayscale Bitcoin Trust ETF by 1.0% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 284,948 shares of the company’s stock worth $25,580,000 after purchasing an additional 2,693 shares during the last quarter. Mariner LLC grew its position in shares of Grayscale Bitcoin Trust ETF by 1.1% during the third quarter. Mariner LLC now owns 171,119 shares of the company’s stock worth $15,361,000 after buying an additional 1,843 shares in the last quarter. Creative Planning grew its position in shares of Grayscale Bitcoin Trust ETF by 40.5% during the third quarter. Creative Planning now owns 135,202 shares of the company’s stock worth $12,137,000 after buying an additional 38,955 shares in the last quarter. Fiduciary Alliance LLC increased its stake in shares of Grayscale Bitcoin Trust ETF by 1.0% in the third quarter. Fiduciary Alliance LLC now owns 130,032 shares of the company’s stock worth $11,673,000 after buying an additional 1,225 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in Grayscale Bitcoin Trust ETF by 3.6% in the third quarter. Foundations Investment Advisors LLC now owns 129,632 shares of the company’s stock valued at $11,637,000 after acquiring an additional 4,490 shares in the last quarter.

Grayscale Bitcoin Trust ETF Stock Down 2.6%

Shares of Grayscale Bitcoin Trust ETF stock traded down $1.98 during trading hours on Thursday, hitting $74.33. 4,436,479 shares of the company’s stock traded hands, compared to its average volume of 4,665,622. The stock has a 50 day simple moving average of $71.24 and a 200-day simple moving average of $83.07. The company has a market cap of $17.89 billion, a PE ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a twelve month low of $59.79 and a twelve month high of $99.12.

About Grayscale Bitcoin Trust ETF

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.