Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) Stock Short Interest Falls 93.4%

Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 47,486 shares, a decline of 93.4% from the September 30th total of 719,229 shares. Based on an average daily trading volume, of 581,625 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.4% of the shares of the stock are short sold.

Grayscale Chainlink Trust ETF Stock Performance

NYSEARCA GLNK traded up $0.38 on Wednesday, reaching $10.52. 696,011 shares of the stock traded hands, compared to its average volume of 305,794. Grayscale Chainlink Trust ETF has a 12 month low of $6.25 and a 12 month high of $27.00. The firm’s fifty day simple moving average is $10.85 and its 200 day simple moving average is $8.79.

Hedge Funds Weigh In On Grayscale Chainlink Trust ETF

An institutional investor recently raised its position in Grayscale Chainlink Trust ETF stock. MOR Wealth Management LLC boosted its position in shares of Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) by 69.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,242 shares of the company’s stock after purchasing an additional 34,865 shares during the period. MOR Wealth Management LLC owned 0.82% of Grayscale Chainlink Trust ETF worth $546,000 at the end of the most recent reporting period.

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.