Bitwise COIN Option Income Strategy ETF (NYSEARCA:ICOI) Sees Large Decline in Short Interest

Bitwise COIN Option Income Strategy ETF (NYSEARCA:ICOI) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 75,841 shares, a drop of 32.3% from the June 30th total of 111,967 shares. Based on an average trading volume of 71,411 shares, the days-to-cover ratio is presently 1.1 days. Currently, 5.3% of the shares of the company are sold short.

Hedge Funds Weigh In On Bitwise COIN Option Income Strategy ETF

A hedge fund recently bought a new position in Bitwise COIN Option Income Strategy ETF stock. Kestra Advisory Services LLC bought a new stake in shares of Bitwise COIN Option Income Strategy ETF (NYSEARCA:ICOI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,979 shares of the company’s stock, valued at approximately $64,000. Kestra Advisory Services LLC owned 0.21% of Bitwise COIN Option Income Strategy ETF as of its most recent filing with the Securities and Exchange Commission.

Bitwise COIN Option Income Strategy ETF Stock Performance

Shares of NYSEARCA:ICOI traded up $0.01 on Friday, reaching $10.37. 114,960 shares of the company’s stock were exchanged, compared to its average volume of 68,217. Bitwise COIN Option Income Strategy ETF has a twelve month low of $9.12 and a twelve month high of $50.23. The company has a fifty day moving average of $10.57 and a 200-day moving average of $12.05.

About Bitwise COIN Option Income Strategy ETF

The Bitwise COIN Option Income Strategy ETF seeks to generate monthly income by investing in options tied to Coinbase (COIN) stock, utilizing a covered call strategy to capitalize on market volatility.