Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Sees Significant Drop in Short Interest

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

Hedge Funds Weigh In On Valkyrie Bitcoin Miners ETF

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new stake in shares of Valkyrie Bitcoin Miners ETF during the first quarter valued at approximately $46,000. Redwood Wealth Management Group LLC purchased a new position in Valkyrie Bitcoin Miners ETF during the 1st quarter worth $285,000. VitalStone Financial LLC raised 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 valued at $364,000 after purchasing an additional 18,706 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Valkyrie Bitcoin Miners ETF in the 1st quarter worth $1,678,000. Finally, Jane Street Group LLC grew its position in shares of Valkyrie Bitcoin Miners ETF by 2,037.7% during the 1st quarter. Jane Street Group LLC now owns 310,656 shares of the company’s stock worth $5,685,000 after buying an additional 296,124 shares in the last quarter. 24.15% of the stock is currently owned by institutional investors.

Valkyrie Bitcoin Miners ETF Stock Performance

NASDAQ WGMI opened at $22.75 on Monday. Valkyrie Bitcoin Miners ETF has a 12 month low of $8.50 and a 12 month high of $24.71. The company’s 50-day moving average price is $19.29 and its 200-day moving average price is $17.15.

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.