Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Short Interest Up 551.0% in January

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the target of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 3,973,214 shares, an increase of 551.0% from the January 15th total of 610,369 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 4,805,868 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 4,805,868 shares, the short-interest ratio is presently 0.8 days. Approximately 1.7% of the shares of the stock are short sold.

Grayscale Bitcoin Trust ETF Stock Performance

GBTC stock traded down $0.96 during midday trading on Wednesday, hitting $52.67. 3,938,281 shares of the stock were exchanged, compared to its average volume of 6,027,809. The stock’s 50-day moving average price is $68.18 and its 200-day moving average price is $79.74. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a fifty-two week low of $48.56 and a fifty-two week high of $99.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kingswood Wealth Advisors LLC grew its stake in Grayscale Bitcoin Trust ETF by 1.0% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 284,948 shares of the company’s stock valued at $25,580,000 after acquiring an additional 2,693 shares during the last quarter. Mariner LLC grew its position in shares of Grayscale Bitcoin Trust ETF by 1.1% in the third quarter. Mariner LLC now owns 171,119 shares of the company’s stock valued at $15,361,000 after purchasing an additional 1,843 shares during the last quarter. Creative Planning grew its position in shares of Grayscale Bitcoin Trust ETF by 40.5% in the third quarter. Creative Planning now owns 135,202 shares of the company’s stock valued at $12,137,000 after purchasing an additional 38,955 shares during the last quarter. Fiduciary Alliance LLC increased its stake in shares of Grayscale Bitcoin Trust ETF by 3.2% during the 4th quarter. Fiduciary Alliance LLC now owns 134,253 shares of the company’s stock worth $9,178,000 after purchasing an additional 4,221 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of Grayscale Bitcoin Trust ETF by 3.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 129,632 shares of the company’s stock worth $11,637,000 after purchasing an additional 4,490 shares during the last quarter.

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.