Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Sees Significant Decrease in Short Interest

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 14,470 shares, a decline of 64.6% from the May 14th total of 40,902 shares. Based on an average daily trading volume, of 13,595 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.5% of the company’s stock are sold short.

Grayscale Bitcoin Covered Call ETF Stock Down 1.7%

BTCC stock traded down $0.23 on Friday, hitting $13.48. 2,346 shares of the company’s stock were exchanged, compared to its average volume of 17,623. Grayscale Bitcoin Covered Call ETF has a 12-month low of $12.81 and a 12-month high of $37.57. The firm has a 50 day moving average price of $16.10 and a two-hundred day moving average price of $18.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Covered Call ETF during the 1st quarter worth $216,000. OLD Mission Capital LLC grew its stake in Grayscale Bitcoin Covered Call ETF by 372.0% during the 4th quarter. OLD Mission Capital LLC now owns 56,409 shares of the company’s stock worth $1,213,000 after buying an additional 44,458 shares during the last quarter. Jane Street Group LLC grew its stake in Grayscale Bitcoin Covered Call ETF by 25.0% during the 4th quarter. Jane Street Group LLC now owns 32,126 shares of the company’s stock worth $691,000 after buying an additional 6,432 shares during the last quarter. L & S Advisors Inc grew its stake in Grayscale Bitcoin Covered Call ETF by 39.8% during the 4th quarter. L & S Advisors Inc now owns 15,966 shares of the company’s stock worth $343,000 after buying an additional 4,548 shares during the last quarter. Finally, Ulland Investment Advisors LLC grew its stake 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 worth $84,000 after buying an additional 1,999 shares during the last quarter.

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. The fund is non-diversified.