BTC Digital Ltd. (NASDAQ:BTCT) Sees Significant Drop in Short Interest

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 290,300 shares, a decrease of 42.2% from the February 13th total of 502,100 shares. Approximately 6.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,280,000 shares, the days-to-cover ratio is currently 0.1 days.

BTC Digital Stock Performance

Shares of BTCT stock opened at $4.34 on Monday. BTC Digital has a twelve month low of $1.32 and a twelve month high of $26.58. The business has a fifty day simple moving average of $5.21 and a 200 day simple moving average of $5.35.

Institutional Trading of BTC Digital

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP bought a new stake in shares of BTC Digital during the 4th quarter worth $59,000. Invesco Ltd. bought a new stake in shares of BTC Digital during the 4th quarter worth $113,000. Finally, Renaissance Technologies LLC bought a new stake in shares of BTC Digital during the 4th quarter worth $975,000. 7.32% of the stock is currently owned by institutional investors.

About BTC Digital

BTC Digital Ltd. a crypto asset technology company engages in bitcoin mining business. It is also involved in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, China.