Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Short Interest Update

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 3,182,660 shares, a growth 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 company’s shares are short sold.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of Grayscale Bitcoin Trust ETF stock traded up $0.18 during trading on Tuesday, hitting $64.58. The company’s stock had a trading volume of 1,232,763 shares, compared to its average volume of 2,922,376. The company has a fifty day simple moving average of $56.41 and a two-hundred day simple moving average of $55.07. Grayscale Bitcoin Trust ETF has a 52 week low of $44.98 and a 52 week high of $99.12. The company has a market capitalization of $12.53 billion, a PE ratio of 2.23 and a beta of 2.19.

Institutional Trading of Grayscale Bitcoin Trust ETF

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

About Grayscale Bitcoin Trust ETF

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.