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

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 40,902 shares, an increase of 126.5% from the April 30th total of 18,057 shares. Based on an average daily trading volume, of 20,108 shares, the days-to-cover ratio is currently 2.0 days. Currently, 4.1% of the shares of the stock are sold short.

Grayscale Bitcoin Covered Call ETF Price Performance

Grayscale Bitcoin Covered Call ETF stock traded up $0.05 during midday trading on Friday, hitting $15.57. 17,908 shares of the company’s stock were exchanged, compared to its average volume of 16,799. Grayscale Bitcoin Covered Call ETF has a 52-week low of $14.89 and a 52-week high of $37.57. The stock has a 50-day moving average price of $16.56 and a two-hundred day moving average price of $18.97.

Hedge Funds Weigh In On Grayscale Bitcoin Covered Call ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTCC. Ulland Investment Advisors LLC grew its position in Grayscale Bitcoin Covered Call ETF by 285.2% during the third 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 in the last quarter. Arete Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Covered Call ETF during the first quarter worth about $216,000. L & S Advisors Inc grew its position in Grayscale Bitcoin Covered Call ETF by 39.8% during the fourth 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 in the last quarter. Jane Street Group LLC grew its position in Grayscale Bitcoin Covered Call ETF by 25.0% during the fourth 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 in the last quarter. Finally, OLD Mission Capital LLC grew its position in Grayscale Bitcoin Covered Call ETF by 372.0% during the fourth 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 in the last quarter.

Grayscale Bitcoin Covered Call ETF Company Profile

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.