Palumbo Wealth Management LLC Invests $4.60 Million in Grayscale Bitcoin Trust ETF $GBTC

Palumbo Wealth Management LLC acquired a new position in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 67,259 shares of the company’s stock, valued at approximately $4,598,000. Grayscale Bitcoin Trust ETF makes up about 1.1% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 20th biggest position.

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the third quarter worth $29,000. Strengthening Families & Communities LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the third quarter worth $33,000. Holos Integrated Wealth LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the fourth quarter worth $28,000. Westfuller Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the third quarter worth $38,000. Finally, CoreCap Advisors LLC lifted its position in shares of Grayscale Bitcoin Trust ETF by 160.9% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter.

Grayscale Bitcoin Trust ETF Stock Down 1.0%

Shares of GBTC stock opened at $53.70 on Wednesday. The company’s fifty day simple moving average is $54.71 and its 200-day simple moving average is $69.47. The firm has a market cap of $12.93 billion, a PE ratio of 2.23 and a beta of 2.24. Grayscale Bitcoin Trust ETF has a 12 month low of $48.56 and a 12 month 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.