Short Interest in Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Rises By 105.9%

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 18,057 shares, an increase of 105.9% from the April 15th total of 8,769 shares. Based on an average daily volume of 10,573 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. OLD Mission Capital LLC grew its position in Grayscale Bitcoin Covered Call ETF by 372.0% in the fourth quarter. OLD Mission Capital LLC now owns 56,409 shares of the company’s stock worth $1,213,000 after acquiring an additional 44,458 shares during the period. Jane Street Group LLC grew its position in Grayscale Bitcoin Covered Call ETF by 25.0% in the fourth quarter. Jane Street Group LLC now owns 32,126 shares of the company’s stock worth $691,000 after acquiring an additional 6,432 shares during the period. L & S Advisors Inc grew its position in Grayscale Bitcoin Covered Call ETF by 39.8% in the fourth quarter. L & S Advisors Inc now owns 15,966 shares of the company’s stock worth $343,000 after acquiring an additional 4,548 shares during the period. Ulland Investment Advisors LLC grew its position in Grayscale Bitcoin Covered Call ETF by 285.2% in the third quarter. Ulland Investment Advisors LLC now owns 2,700 shares of the company’s stock worth $84,000 after acquiring an additional 1,999 shares during the period. Finally, CWM LLC grew its position in Grayscale Bitcoin Covered Call ETF by 548.6% in the third quarter. CWM LLC now owns 3,366 shares of the company’s stock worth $104,000 after acquiring an additional 2,847 shares during the period.

Grayscale Bitcoin Covered Call ETF Price Performance

Shares of NYSEARCA:BTCC traded down $0.38 during midday trading on Friday, hitting $16.97. The company had a trading volume of 12,674 shares, compared to its average volume of 17,115. Grayscale Bitcoin Covered Call ETF has a twelve month low of $14.89 and a twelve month high of $37.57. The business’s 50-day simple moving average is $16.60 and its 200-day simple moving average is $19.68.

About Grayscale Bitcoin Covered Call ETF

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.