Traynor Capital Management Inc. Acquires New Holdings in Grayscale Bitcoin Trust ETF $GBTC

Traynor Capital Management Inc. purchased a new stake in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,632 shares of the company’s stock, valued at approximately $775,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF during the 1st quarter valued at about $218,000. Capital Investment Advisors LLC bought a new stake in Grayscale Bitcoin Trust ETF during the second quarter worth approximately $291,000. New Wave Wealth Advisors LLC bought a new stake in Grayscale Bitcoin Trust ETF during the second quarter worth approximately $252,000. Clarity Financial LLC acquired a new position in Grayscale Bitcoin Trust ETF during the second quarter valued at approximately $212,000. Finally, 25 LLC bought a new position in shares of Grayscale Bitcoin Trust ETF in the second quarter valued at approximately $221,000.

Grayscale Bitcoin Trust ETF Trading Down 5.7%

Shares of Grayscale Bitcoin Trust ETF stock opened at $65.53 on Friday. The firm has a fifty day simple moving average of $70.14 and a 200-day simple moving average of $81.92. The stock has a market capitalization of $15.78 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a 1-year low of $59.79 and a 1-year high of $99.12.

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.