Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Shares Down 6.4% – Time to Sell?

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) was down 6.4% during mid-day trading on Monday . The stock traded as low as $18.56 and last traded at $18.64. Approximately 24,635 shares traded hands during trading, an increase of 47% from the average daily volume of 16,778 shares. The stock had previously closed at $19.92.

Grayscale Bitcoin Covered Call ETF Stock Down 6.4%

The firm’s fifty day simple moving average is $21.98 and its 200 day simple moving average is $27.99.

Hedge Funds Weigh In On Grayscale Bitcoin Covered Call ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC lifted its holdings 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 purchasing an additional 1,999 shares in the last quarter. CWM LLC grew its holdings 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 valued at $104,000 after buying an additional 2,847 shares in the last quarter. Pasadena Private Wealth LLC acquired a new position in Grayscale Bitcoin Covered Call ETF during the second quarter valued at $319,000. L & S Advisors Inc purchased a new stake in Grayscale Bitcoin Covered Call ETF in the 3rd quarter worth about $354,000. Finally, MADDEN SECURITIES Corp acquired a new stake in Grayscale Bitcoin Covered Call ETF during the 3rd quarter worth about $10,627,000.

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.