Short Interest in Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Decreases By 64.6%

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

Institutional Trading of Grayscale Bitcoin Covered Call ETF

Large investors have recently added to or reduced their stakes in the business. Ulland Investment Advisors LLC raised its stake in shares of Grayscale Bitcoin Covered Call ETF by 285.2% in the third quarter. Ulland Investment Advisors LLC now owns 2,700 shares of the company’s stock valued at $84,000 after acquiring an additional 1,999 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of Grayscale Bitcoin Covered Call ETF in the first quarter worth about $216,000. L & S Advisors Inc grew its holdings in shares of Grayscale Bitcoin Covered Call ETF by 39.8% in the fourth quarter. L & S Advisors Inc now owns 15,966 shares of the company’s stock worth $343,000 after purchasing an additional 4,548 shares during the last quarter. Jane Street Group LLC grew its holdings 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 acquiring an additional 6,432 shares in the last quarter. Finally, OLD Mission Capital LLC grew its holdings 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 acquiring an additional 44,458 shares in the last quarter.

Grayscale Bitcoin Covered Call ETF Trading Down 1.7%

Shares of BTCC traded down $0.23 during trading hours on Friday, reaching $13.48. 2,346 shares of the company traded hands, compared to its average volume of 17,623. The company’s fifty day moving average price is $16.10 and its two-hundred day moving average price is $18.24. Grayscale Bitcoin Covered Call ETF has a 12 month low of $12.81 and a 12 month high of $37.57.

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.