Bitwise COIN Option Income Strategy ETF (NYSEARCA:ICOI) Sees Significant Decline in Short Interest

Bitwise COIN Option Income Strategy ETF (NYSEARCA:ICOI) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 75,841 shares, a decline of 32.3% from the June 30th total of 111,967 shares. Approximately 5.3% of the shares of the company are sold short. Based on an average daily volume of 71,411 shares, the days-to-cover ratio is currently 1.1 days.

Bitwise COIN Option Income Strategy ETF Stock Down 0.3%

Shares of NYSEARCA ICOI opened at $10.36 on Friday. The stock’s fifty day moving average price is $10.59 and its two-hundred day moving average price is $12.06. Bitwise COIN Option Income Strategy ETF has a one year low of $9.12 and a one year high of $50.23.

Hedge Funds Weigh In On Bitwise COIN Option Income Strategy ETF

A hedge fund recently bought a new stake in Bitwise COIN Option Income Strategy ETF stock. Kestra Advisory Services LLC acquired a new stake in Bitwise COIN Option Income Strategy ETF (NYSEARCA:ICOI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,979 shares of the company’s stock, valued at approximately $64,000. Kestra Advisory Services LLC owned 0.21% of Bitwise COIN Option Income Strategy ETF as of its most recent SEC filing.

About Bitwise COIN Option Income Strategy ETF

The Bitwise COIN Option Income Strategy ETF seeks to generate monthly income by investing in options tied to Coinbase (COIN) stock, utilizing a covered call strategy to capitalize on market volatility.