Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Shares Shorted: Short Interest Up 77.6% in September

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 3,182,660 shares, a growth of 77.6% from the August 31st total of 1,792,536 shares. Based on an average daily trading volume, of 2,036,424 shares, the short-interest ratio is presently 1.6 days. Approximately 1.6% of the company’s shares are short sold.

Grayscale Bitcoin Trust ETF Trading Up 0.4%

Shares of NYSEARCA GBTC traded up $0.25 during midday trading on Thursday, hitting $64.84. The company’s stock had a trading volume of 636,034 shares, compared to its average volume of 2,904,706. The business’s 50 day moving average is $56.94 and its two-hundred day moving average is $55.20. Grayscale Bitcoin Trust ETF has a 12-month low of $44.98 and a 12-month high of $99.12. The firm has a market cap of $12.58 billion, a P/E ratio of 2.23 and a beta of 2.19.

Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF

Several hedge funds have recently bought and sold shares of the business. Fund Advisors of America Inc FL purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter valued at $831,000. Osbon Capital Management LLC bought a new stake in Grayscale Bitcoin Trust ETF during the 4th quarter valued at about $1,879,000. OakTrust Wealth Advisors LLC bought a new stake in Grayscale Bitcoin Trust ETF during the 4th quarter valued at about $1,273,000. Ballast Financial Advisors LLC purchased a new stake in Grayscale Bitcoin Trust ETF in the 4th quarter valued at about $1,310,000. Finally, Ridgepath Capital Management LLC purchased a new stake in Grayscale Bitcoin Trust ETF in the 1st quarter valued at about $2,655,000.

About Grayscale Bitcoin Trust ETF

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.