Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC) Stock Price Up 0.5% – Still a Buy?

Grayscale Bitcoin Covered Call ETF (NYSEARCA:BTCC)’s share price traded up 0.5% on Friday . The stock traded as high as $13.23 and last traded at $13.12. Approximately 13,122 shares changed hands during trading, a decline of 27% from the average daily volume of 18,094 shares. The stock had previously closed at $13.06.

Grayscale Bitcoin Covered Call ETF Stock Performance

The stock has a 50-day simple moving average of $14.70 and a 200-day simple moving average of $16.91.

Hedge Funds Weigh In On Grayscale Bitcoin Covered Call ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ulland Investment Advisors LLC increased its stake in 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 valued at $84,000 after buying an additional 1,999 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of Grayscale Bitcoin Covered Call ETF in the 1st quarter worth approximately $216,000. L & S Advisors Inc boosted its holdings in shares of Grayscale Bitcoin Covered Call ETF by 39.8% in the fourth quarter. L & S Advisors Inc now owns 15,966 shares of the company’s stock valued at $343,000 after acquiring an additional 4,548 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Grayscale Bitcoin Covered Call ETF by 25.0% during the fourth quarter. Jane Street Group LLC now owns 32,126 shares of the company’s stock valued at $691,000 after acquiring an additional 6,432 shares during the period. Finally, OLD Mission Capital LLC increased its stake in shares of Grayscale Bitcoin Covered Call ETF by 372.0% during the fourth quarter. OLD Mission Capital LLC now owns 56,409 shares of the company’s stock valued at $1,213,000 after acquiring an additional 44,458 shares during the period.

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. The fund is non-diversified.