Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) Sees Large Decline in Short Interest

Grayscale Chainlink Trust ETF (NYSEARCA:GLNK) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 159,626 shares, a decline of 47.6% from the July 15th total of 304,909 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 323,549 shares, the days-to-cover ratio is presently 0.5 days.

Grayscale Chainlink Trust ETF Trading Up 0.1%

NYSEARCA:GLNK traded up $0.01 during mid-day trading on Tuesday, reaching $8.44. The stock had a trading volume of 199,412 shares, compared to its average volume of 236,347. The business’s 50 day moving average is $7.19 and its 200 day moving average is $9.67. Grayscale Chainlink Trust ETF has a fifty-two week low of $6.25 and a fifty-two week high of $69.99.

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.