Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) Sees Large Decrease in Short Interest

Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 69,780 shares, a drop of 75.9% from the August 15th total of 289,835 shares. Based on an average trading volume of 421,412 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.7% of the company’s shares are sold short.

Grayscale Chainlink Trust ETF Stock Down 0.4%

Shares of GLNK stock traded down $0.04 during midday trading on Friday, reaching $10.27. 312,064 shares of the stock were exchanged, compared to its average volume of 253,877. Grayscale Chainlink Trust ETF has a 1 year low of $6.25 and a 1 year high of $44.80. The company’s 50 day moving average is $8.43 and its two-hundred day moving average is $8.64.

Institutional Investors Weigh In On Grayscale Chainlink Trust ETF

An institutional investor recently raised its stake in Grayscale Chainlink Trust ETF stock. MOR Wealth Management LLC increased its stake in Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) by 69.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,242 shares of the company’s stock after buying an additional 34,865 shares during the period. MOR Wealth Management LLC owned 0.82% of Grayscale Chainlink Trust ETF worth $546,000 as of its most recent filing with the Securities & Exchange Commission.

Grayscale Chainlink Trust ETF (NYSE Arca: GLNK) is an exchange-traded investment product sponsored by Grayscale Investments. Rather than operating as a conventional company, the trust is designed to provide investors with exposure to Chainlink (LINK), the digital asset associated with the Chainlink decentralized oracle network.

The trust’s principal activity is holding LINK and issuing shares that are intended to represent an interest in the underlying assets. Chainlink’s network is designed to connect blockchain-based smart contracts with external data, events and systems, supporting applications in areas such as decentralized finance, insurance, gaming and other blockchain services.