Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Sees Significant Drop in Short Interest

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 20,292 shares, a decline of 57.5% from the September 15th total of 47,719 shares. Based on an average daily volume of 34,028 shares, the short-interest ratio is presently 0.6 days. Currently, 1.6% of the company’s stock are sold short.

Grayscale Bitcoin Covered Call ETF Stock Performance

Grayscale Bitcoin Covered Call ETF stock traded down $0.42 during trading hours on Wednesday, reaching $13.10. The stock had a trading volume of 21,944 shares, compared to its average volume of 19,939. The business’s 50 day moving average price is $13.43 and its 200-day moving average price is $14.37. Grayscale Bitcoin Covered Call ETF has a 52 week low of $12.31 and a 52 week high of $29.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Grayscale Bitcoin Covered Call ETF stock. Arete Wealth Advisors LLC bought a new stake in shares of Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,900 shares of the company’s stock, valued at approximately $216,000. Arete Wealth Advisors LLC owned about 1.40% of Grayscale Bitcoin Covered Call ETF as of its most recent SEC filing.

Grayscale Bitcoin Covered Call ETF Company Profile

The manager seeks to achieve its investment objective primarily through actively-managed exposure to bitcoin ETPs, including, but not limited to, Grayscale Bitcoin Trust ETF and Grayscale Bitcoin Mini Trust ETF and the purchase and sale of a combination of call and put option contracts that utilize Bitcoin ETPs as the reference asset. The fund is non-diversified.