Short Interest in Canary XRP ETF (NASDAQ:XRPC) Grows By 178.9%

Canary XRP ETF (NASDAQ:XRPC) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 421,519 shares, a growth of 178.9% from the April 30th total of 151,130 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average daily volume of 243,113 shares, the short-interest ratio is presently 1.7 days.

Canary XRP ETF Stock Performance

Shares of NASDAQ:XRPC opened at $14.02 on Friday. Canary XRP ETF has a 12 month low of $12.12 and a 12 month high of $26.89. The firm’s 50-day moving average price is $14.73.

Hedge Funds Weigh In On Canary XRP ETF

Hedge funds have recently added to or reduced their stakes in the company. Quaker Wealth Management LLC bought a new position in Canary XRP ETF in the 4th quarter worth about $88,000. Gallacher Capital Management LLC bought a new position in Canary XRP ETF in the 4th quarter worth about $2,563,000. Avantax Planning Partners Inc. bought a new position in Canary XRP ETF in the 4th quarter worth about $244,000. Larson Financial Group LLC bought a new position in Canary XRP ETF in the 4th quarter worth about $31,000. Finally, PNC Financial Services Group Inc. bought a new position in Canary XRP ETF in the 4th quarter worth about $41,000.

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.