Sequoia Financial Advisors LLC Has $4.38 Million Stock Position in Grayscale Bitcoin Trust ETF $GBTC

Sequoia Financial Advisors LLC cut its stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 24.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,213 shares of the company’s stock after selling 30,963 shares during the period. Sequoia Financial Advisors LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $4,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC lifted its position in shares of Grayscale Bitcoin Trust ETF by 30.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 18,227 shares of the company’s stock worth $830,000 after purchasing an additional 4,302 shares during the period. Compass Financial Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the second quarter worth $114,000. Concurrent Investment Advisors LLC increased its position in shares of Grayscale Bitcoin Trust ETF by 8.5% during the second quarter. Concurrent Investment Advisors LLC now owns 12,820 shares of the company’s stock worth $584,000 after buying an additional 1,001 shares during the period. Smallwood Wealth Investment Management LLC raised its stake in Grayscale Bitcoin Trust ETF by 284.6% during the second quarter. Smallwood Wealth Investment Management LLC now owns 3,854 shares of the company’s stock worth $175,000 after buying an additional 2,852 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in Grayscale Bitcoin Trust ETF during the second quarter worth $220,000.

Grayscale Bitcoin Trust ETF Stock Up 0.2%

GBTC stock opened at $59.77 on Friday. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of 2.23 and a beta of 2.19. Grayscale Bitcoin Trust ETF has a 12-month low of $44.98 and a 12-month high of $99.12. The company’s fifty day simple moving average is $53.41 and its 200 day simple moving average is $54.30.

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.