Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Stock Short Interest Rises 77.6%

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 3,182,660 shares, an increase of 77.6% from the August 31st total of 1,792,536 shares. Based on an average daily trading volume, of 2,036,424 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.6% of the shares of the stock are sold short.

Grayscale Bitcoin Trust ETF Stock Up 0.0%

Shares of GBTC stock traded up $0.01 during trading on Wednesday, hitting $64.59. The company had a trading volume of 2,010,653 shares, compared to its average volume of 2,917,524. Grayscale Bitcoin Trust ETF has a 52 week low of $44.98 and a 52 week high of $99.12. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 2.23 and a beta of 2.19. The stock’s 50-day moving average is $56.94 and its two-hundred day moving average is $55.20.

Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF

Several institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC lifted its holdings in shares of Grayscale Bitcoin Trust ETF by 30.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 18,227 shares of the company’s stock worth $830,000 after acquiring an additional 4,302 shares during the last quarter. Compass Financial Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the second quarter worth about $114,000. Concurrent Investment Advisors LLC lifted its holdings in Grayscale Bitcoin Trust ETF by 8.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 12,820 shares of the company’s stock worth $584,000 after buying an additional 1,001 shares during the period. Smallwood Wealth Investment Management LLC lifted its stake in Grayscale Bitcoin Trust ETF by 284.6% in the second quarter. Smallwood Wealth Investment Management LLC now owns 3,854 shares of the company’s stock worth $175,000 after acquiring an additional 2,852 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF during the second quarter valued at about $220,000.

Grayscale Bitcoin Trust ETF Company Profile

The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of bitcoin (BTC). An investment in the fund is not a direct investment in bitcoin. GBTC was launched on Jan 11, 2024 and is issued by Grayscale.