Short Interest in Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) Declines By 47.6%

Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 159,626 shares, a drop of 47.6% from the July 15th total of 304,909 shares. Based on an average daily trading volume, of 323,549 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.5% of the company’s stock are short sold.

Grayscale Chainlink Trust ETF Trading Up 5.6%

NYSEARCA GLNK traded up $0.45 during trading on Monday, hitting $8.43. The stock had a trading volume of 250,543 shares, compared to its average volume of 236,509. Grayscale Chainlink Trust ETF has a 12 month low of $6.25 and a 12 month high of $69.99. The company’s 50-day moving average price is $7.17 and its two-hundred day moving average price is $9.75.

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.