The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
As the 3rd quarter came to a close in September, the OTC Markets saw a slight decrease in total trading volume even as companies reported quarterly earnings. As has been the theme in 2021 cryptocurrency trusts from Grayscale Investments LLC drove the most volume along with some standouts from the biotech and energy sectors experiencing impressive volume as well.
In September, the combined total dollar volume on OTC Markets reached just over $51.1 billion, edging 2.7% lower than the previous month’s volume. The OTCQX and OTCQB markets, however, remained relatively unchanged compared to August dollar volume numbers.
Grayscale Ethereum Trust ETHE and Grayscale Bitcoin Trust GBTC traded places as the top 2 securities on the OTCQX Best Market in terms of dollar volume for the month with ETHE taking the top spot. Institutional traders may have driven this shift as a new report found that institutions preferred ETHE over GBTC for the first time ever in September.
The OTCQX also witnessed some international standouts. Tesco PLC TSCDY )) a United Kingdom-based grocery store and general merchandise retailer, experienced a 146% increase in September trading volume. The company is expected to report strong results in October and has also seen consistent sales growth throughout the pandemic.
Netherlands-based paint company Akzo Nobel N.V. AKZOY saw a precipitous fall in the price of its shares in both August and September, which may be one of the factors that drove a 114% increase in its trading volume in September. The company also reported a disappointing quarter in August.
In the OTCQB Venture Market, Netlist Inc. NLST maintained its No. 1 spot as far as trading volume for the month of September, followed closely by CytoDyn Inc. CYDY which jumped to the No. 2 spot.
CytoDyn has made headlines recently with its cancer and HIV therapeutic leronlimab that it is currently testing for possible COVID-19 applications. Nevertheless, the company has also been experiencing some internal strife between activist investors and leadership.
The largest changes in month-over-month dollar volume in the OTCQX market came from a handful of energy companies.
Australian energy companies Boss Energy Ltd. BQSSF, which recently joined the OTCQB Venture Market, and Bannerman Energy LTD. BNNLF both saw substantial increases in trading volume in September.
Both companies announced positive advancements in their respective Uranium mining projects. Bannerman announced that it would begin a new uranium mining project in Namibia, and Boss also reported it is ahead of schedule in its Australian mining operations.
enCore Energy Corp. ENCUF also had an increase in trading volume for the month of September on news that it had successfully completed its acquisition of Azarga Uranium creating a leading uranium mining company with a plethora of U.S.-based projects.
Below are the top 10 most actively traded securities on the OTCQX and OTCQB markets in September:
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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