Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) Sees Significant Increase in Short Interest

Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 289,835 shares, an increase of 81.6% from the July 30th total of 159,626 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average trading volume of 275,064 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Grayscale Chainlink Trust ETF

An institutional investor recently raised its position in Grayscale Chainlink Trust ETF stock. MOR Wealth Management LLC grew its position in Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) by 69.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,242 shares of the company’s stock after purchasing an additional 34,865 shares during the quarter. MOR Wealth Management LLC owned approximately 0.82% of Grayscale Chainlink Trust ETF worth $546,000 at the end of the most recent reporting period.

Grayscale Chainlink Trust ETF Trading Down 4.1%

Shares of GLNK stock traded down $0.43 during trading on Friday, reaching $10.11. The company’s stock had a trading volume of 376,307 shares, compared to its average volume of 247,997. Grayscale Chainlink Trust ETF has a 1-year low of $6.25 and a 1-year high of $55.21. The stock’s 50-day moving average price is $7.69 and its 200 day moving average price is $8.94.

Grayscale Chainlink Trust ETF (NYSE Arca: GLNK) is an exchange-traded investment product sponsored by Grayscale Investments. Rather than operating as a conventional company, the trust is designed to provide investors with exposure to Chainlink (LINK), the digital asset associated with the Chainlink decentralized oracle network.

The trust’s principal activity is holding LINK and issuing shares that are intended to represent an interest in the underlying assets. Chainlink’s network is designed to connect blockchain-based smart contracts with external data, events and systems, supporting applications in areas such as decentralized finance, insurance, gaming and other blockchain services.