Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Sees Large Decline in Short Interest

by · The Markets Daily

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report) was the recipient of a large drop in short interest during the month of 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. Based on an average daily trading volume, of 4,826,274 shares, the short-interest ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 4,826,274 shares, the short-interest ratio is currently 0.1 days.

Grayscale Bitcoin Trust ETF Trading Up 0.3%

Shares of NYSEARCA:GBTC traded up $0.25 during midday trading on Friday, hitting $74.58. The stock had a trading volume of 4,034,079 shares, compared to its average volume of 4,609,852. Grayscale Bitcoin Trust ETF has a 1 year low of $59.79 and a 1 year high of $99.12. The stock has a 50 day moving average price of $71.11 and a two-hundred day moving average price of $83.00. The company has a market capitalization of $17.96 billion, a PE ratio of 2.23 and a beta of 2.40.

Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF

A number of large investors have recently modified their holdings of the business. Root Financial Partners LLC acquired a new position in Grayscale Bitcoin Trust ETF during the third quarter worth $29,000. Strengthening Families & Communities LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the 3rd quarter worth $33,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the 2nd quarter worth $33,000. Holos Integrated Wealth LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF during the 4th quarter worth $28,000. Finally, Westfuller Advisors LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF in the 3rd quarter valued at about $38,000.

About Grayscale Bitcoin Trust ETF

(Get Free Report)

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.

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