Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sees Large Drop in Short Interest

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 301,170 shares, a decline of 52.0% from the April 15th total of 627,434 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,933,071 shares, the days-to-cover ratio is currently 0.2 days.

Grayscale Bitcoin Mini Trust ETF Price Performance

BTC stock traded down $1.03 during trading on Friday, hitting $34.98. The company had a trading volume of 1,238,294 shares, compared to its average volume of 3,845,870. The company has a fifty day moving average price of $32.51 and a two-hundred day moving average price of $36.43. Grayscale Bitcoin Mini Trust ETF has a fifty-two week low of $27.55 and a fifty-two week high of $55.96.

Hedge Funds Weigh In On Grayscale Bitcoin Mini Trust ETF

Several institutional investors have recently bought and sold shares of BTC. Flagship Harbor Advisors LLC bought a new position in Grayscale Bitcoin Mini Trust ETF in the 4th quarter valued at $27,000. Strategic Advocates LLC bought a new position in Grayscale Bitcoin Mini Trust ETF in the 3rd quarter valued at $28,000. Cornerstone Planning Group LLC raised its position in Grayscale Bitcoin Mini Trust ETF by 498.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 958 shares of the company’s stock valued at $29,000 after purchasing an additional 798 shares during the last quarter. Abound Financial LLC bought a new position in Grayscale Bitcoin Mini Trust ETF in the 4th quarter valued at $34,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Grayscale Bitcoin Mini Trust ETF in the 3rd quarter valued at $34,000. Institutional investors own 27.38% of the company’s stock.

About Grayscale Bitcoin Mini Trust ETF

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin. BTC was launched on Jul 31, 2024 and is issued by Grayscale.