Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Short Interest Update
by Sarita Garza · The Markets DailyGrayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 1,304,535 shares, a drop of 66.3% from the February 12th total of 3,869,180 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 3,588,766 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 3,588,766 shares, the short-interest ratio is currently 0.4 days. Approximately 0.5% of the company’s stock are short sold.
Grayscale Bitcoin Trust ETF Stock Performance
Grayscale Bitcoin Trust ETF stock traded up $0.58 during mid-day trading on Friday, reaching $55.47. 7,192,756 shares of the company were exchanged, compared to its average volume of 5,157,747. Grayscale Bitcoin Trust ETF has a 12-month low of $48.56 and a 12-month high of $99.12. The business has a fifty day moving average of $60.74 and a 200 day moving average of $73.82. The firm has a market cap of $13.35 billion, a P/E ratio of 2.23 and a beta of 2.40.
Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF
Several institutional investors have recently bought and sold shares of GBTC. Kingswood Wealth Advisors LLC grew its stake 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 buying an additional 2,693 shares during the last quarter. DRW Securities LLC increased its stake in Grayscale Bitcoin Trust ETF by 1,210.6% during the 4th quarter. DRW Securities LLC now owns 232,691 shares of the company’s stock valued at $15,907,000 after purchasing an additional 214,937 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Grayscale Bitcoin Trust ETF by 10.5% in the fourth quarter. Focus Partners Wealth now owns 221,130 shares of the company’s stock worth $15,116,000 after buying an additional 20,951 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Grayscale Bitcoin Trust ETF by 250.6% during the fourth quarter. Cetera Investment Advisers now owns 184,976 shares of the company’s stock valued at $12,645,000 after buying an additional 132,219 shares during the last quarter. Finally, Mariner LLC lifted its position in Grayscale Bitcoin Trust ETF by 1.2% during the 4th quarter. Mariner LLC now owns 173,207 shares of the company’s stock worth $11,840,000 after acquiring an additional 2,088 shares during the period.
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.