Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Stock Price Down 2.1% – Time to Sell?

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC)’s stock price dropped 2.1% during mid-day trading on Wednesday . The stock traded as low as $16.42 and last traded at $16.50. Approximately 20,976 shares were traded during trading, an increase of 3% from the average daily volume of 20,267 shares. The stock had previously closed at $16.86.

Grayscale Bitcoin Covered Call ETF Stock Down 2.1%

The company has a 50 day simple moving average of $18.15 and a two-hundred day simple moving average of $23.84.

Hedge Funds Weigh In On Grayscale Bitcoin Covered Call ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. MADDEN SECURITIES Corp purchased a new stake in Grayscale Bitcoin Covered Call ETF in the 3rd quarter worth $10,627,000. Pasadena Private Wealth LLC grew its position in shares of Grayscale Bitcoin Covered Call ETF by 30.8% during the third quarter. Pasadena Private Wealth LLC now owns 11,696 shares of the company’s stock valued at $363,000 after purchasing an additional 2,756 shares in the last quarter. OLD Mission Capital LLC increased its holdings in shares of Grayscale Bitcoin Covered Call ETF by 372.0% in the fourth quarter. OLD Mission Capital LLC now owns 56,409 shares of the company’s stock worth $1,213,000 after purchasing an additional 44,458 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Grayscale Bitcoin Covered Call ETF by 25.0% in the fourth quarter. Jane Street Group LLC now owns 32,126 shares of the company’s stock worth $691,000 after purchasing an additional 6,432 shares during the last quarter. Finally, L & S Advisors Inc lifted its position 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 buying an additional 4,548 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.