Grayscale Bitcoin Trust (GBTC) Shares Gap Down Prior to Trading on Tuesday

Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC – Get Free Report) gapped down prior to trading on Tuesday. The stock had previously closed at $59.21, but opened at $57.59. Grayscale Bitcoin Trust shares last traded at $57.60, with a volume of 482,169 shares.

Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) dropped before the bell Tuesday.

Previously closing at $59.21, the stock opened at $57.59 and last traded at $57.60, handling 482,169 shares of volume.

The company boasts a market cap of $29.20B, a P/E of 2.29 and a beta of 1.25.

Over the past 52 weeks, GBTC has ranged from a low of $40.11 to a high of $65.16. The company has a debt-to-equity ratio of 0.01.

The institutional ownership for Grayscale Bitcoin Trust amounts to 99.61% of the outstanding shares.

Among institutional investors, Ulland Inv Advisers Llc increased their GBTC holdings by 100% in Q1, upping their shares by 112,130 to a total of 224,330 valued at $13.1 million.

Dixon Mitchell Inv Counsel Inc picked up 4,400 shares in Q1, valued at $270,000. Toth Financial Advisory Corp acquired 4,300 shares in the 1st quarter, valued at $251,000. Yhb Inv Advisers Inc picked up 4,200 shares in Q1, valued at $244,000. Hollencrest Capital Management acquired 4,100 shares in the 1st quarter, valued at $238,000.

The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that primarily invests in long btc, short usd currency. The fund is passively managed, providing exposure to the daily USD spot price of bitcoin (BTC). An investment in the fund is not a direct investment in bitcoin. GBTC began on Jan 11, 2024 and is issued by Grayscale.

News source：https://www.kdj.com/cryptocurrencies-news/articles/grayscale-bitcoin-trust-gbtc-shares-gap-prior-trading-tuesday.html

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