Short Interest in Canary XRP ETF (NASDAQ:XRPC) Expands By 439.3%

Canary XRP ETF (NASDAQ:XRPC) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 197,071 shares, an increase of 439.3% from the August 15th total of 36,539 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 453,254 shares, the short-interest ratio is currently 0.4 days.

Canary XRP ETF Price Performance

XRPC opened at $14.33 on Friday. The company’s 50 day simple moving average is $12.49 and its two-hundred day simple moving average is $13.53. Canary XRP ETF has a 1-year low of $10.52 and a 1-year high of $26.89.

Hedge Funds Weigh In On Canary XRP ETF

A number of institutional investors have recently added to or reduced their stakes in XRPC. Millennium Management LLC acquired a new position in Canary XRP ETF during the fourth quarter worth $13,452,000. Marex Group plc acquired a new stake in shares of Canary XRP ETF in the 4th quarter worth $3,371,000. Jain Global LLC purchased a new position in shares of Canary XRP ETF during the 4th quarter worth $3,227,000. Avantax Planning Partners Inc. purchased a new position in shares of Canary XRP ETF during the 4th quarter worth $244,000. Finally, Bogart Wealth LLC acquired a new position in shares of Canary XRP ETF during the 1st quarter valued at about $98,000.

Canary XRP ETF (NASDAQ: XRPC) is an exchange-traded fund listed on the Nasdaq that provides investors with a vehicle for gaining market exposure to XRP, the digital token associated with the Ripple network. As an ETF, XRPC is structured to trade like a stock on an exchange while offering investors exposure to the price movements of the underlying digital asset without requiring direct custody of cryptocurrencies.

The fund’s primary activity is offering exposure to XRP-related returns through holdings and instruments tied to the token.