Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Stock Price Down 1.6% – What’s Next?

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) shares fell 1.6% during trading on Monday . The company traded as low as $23.40 and last traded at $23.54. 14,680 shares were traded during mid-day trading, a decline of 44% from the average session volume of 26,166 shares. The stock had previously closed at $23.92.

Grayscale Bitcoin Covered Call ETF Stock Performance

The stock has a 50-day simple moving average of $29.15 and a two-hundred day simple moving average of $33.44.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BTCC. MADDEN SECURITIES Corp purchased a new stake in Grayscale Bitcoin Covered Call ETF in the 3rd quarter worth approximately $10,627,000. L & S Advisors Inc bought a new position in shares of Grayscale Bitcoin Covered Call ETF during the third quarter valued at approximately $354,000. Pasadena Private Wealth LLC purchased a new stake in Grayscale Bitcoin Covered Call ETF in the second quarter worth $319,000. CWM LLC boosted its holdings 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 valued at $104,000 after acquiring an additional 2,847 shares in the last quarter. Finally, Ulland Investment Advisors LLC increased its position in Grayscale Bitcoin Covered Call ETF by 285.2% during the 3rd quarter. Ulland Investment Advisors LLC now owns 2,700 shares of the company’s stock valued at $84,000 after purchasing an additional 1,999 shares during the period.

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.