Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Sees Large Decline in Short Interest

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 185,300 shares, a decrease of 22.9% from the June 15th total of 240,200 shares. Based on an average daily trading volume, of 341,000 shares, the short-interest ratio is presently 0.5 days.

Valkyrie Bitcoin Miners ETF Trading Up 7.0 %

Valkyrie Bitcoin Miners ETF stock opened at $22.75 on Friday. Valkyrie Bitcoin Miners ETF has a 1 year low of $8.50 and a 1 year high of $24.71. The firm’s 50 day moving average price is $19.29 and its 200-day moving average price is $17.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WGMI. Commonwealth Equity Services LLC purchased a new position in shares of Valkyrie Bitcoin Miners ETF during the first quarter worth approximately $1,678,000. VitalStone Financial LLC lifted its position in Valkyrie Bitcoin Miners ETF by 1,589.3% during the 1st quarter. VitalStone Financial LLC now owns 19,883 shares of the company’s stock worth $364,000 after acquiring an additional 18,706 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in shares of Valkyrie Bitcoin Miners ETF during the first quarter worth about $285,000. Jane Street Group LLC boosted its holdings in shares of Valkyrie Bitcoin Miners ETF by 2,037.7% in the 1st quarter. Jane Street Group LLC now owns 310,656 shares of the company’s stock valued at $5,685,000 after acquiring an additional 296,124 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in Valkyrie Bitcoin Miners ETF during the 1st quarter worth about $46,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Company Profile

The Valkyrie Bitcoin Miners ETF (WGMI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund provides active exposure to companies that derive at least 50% of their revenue from bitcoin mining operations and/or services related to bitcoin mining. WGMI was launched on Feb 7, 2022 and is managed by Valkyrie.