Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC – Get Free Report)’s stock price dropped 1.6% on Monday . The stock traded as low as $23.40 and last traded at $23.54. Approximately 14,680 shares traded hands during trading, a decline of 44% from the average daily volume of 26,166 shares. The stock had previously closed at $23.92.
Grayscale Bitcoin Covered Call ETF Stock Performance
The company has a 50 day simple moving average of $29.55 and a two-hundred day simple moving average of $33.60.
Institutional Investors Weigh In On Grayscale Bitcoin Covered Call ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pasadena Private Wealth LLC purchased a new position in shares of Grayscale Bitcoin Covered Call ETF during the 2nd quarter valued at $319,000. CWM LLC grew its stake in Grayscale Bitcoin Covered Call ETF by 548.6% in the third quarter. CWM LLC now owns 3,366 shares of the company’s stock valued at $104,000 after purchasing an additional 2,847 shares in the last quarter. MADDEN SECURITIES Corp acquired a new position in Grayscale Bitcoin Covered Call ETF in the 3rd quarter worth about $10,627,000. L & S Advisors Inc acquired a new position in Grayscale Bitcoin Covered Call ETF in the 3rd quarter worth about $354,000. Finally, Ulland Investment Advisors LLC raised its stake in shares of Grayscale Bitcoin Covered Call ETF by 285.2% during the 3rd quarter. Ulland Investment Advisors LLC now owns 2,700 shares of the company’s stock worth $84,000 after purchasing an additional 1,999 shares in the last quarter.
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.
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