Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Trading Down 0.9% – Should You Sell?

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) shares traded down 0.9% on Thursday . The stock traded as low as $21.31 and last traded at $21.43. 20,888 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 25,754 shares. The stock had previously closed at $21.62.

Grayscale Bitcoin Covered Call ETF Price Performance

The firm’s 50-day simple moving average is $25.20 and its two-hundred day simple moving average is $31.43.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Pasadena Private Wealth LLC acquired a new position in Grayscale Bitcoin Covered Call ETF during the 2nd quarter worth $319,000. CWM LLC raised its position in shares of Grayscale Bitcoin Covered Call ETF by 548.6% during the third quarter. CWM LLC now owns 3,366 shares of the company’s stock worth $104,000 after acquiring an additional 2,847 shares during the last quarter. MADDEN SECURITIES Corp acquired a new position in shares of Grayscale Bitcoin Covered Call ETF during the third quarter valued at $10,627,000. L & S Advisors Inc bought a new position in Grayscale Bitcoin Covered Call ETF in the third quarter valued at about $354,000. Finally, Ulland Investment Advisors LLC boosted its holdings in 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 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.