Stock Traders Buy High Volume of Put Options on Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI)

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the recipient of unusually large options trading activity on Monday. Traders purchased 5,460 put options on the company. This is an increase of approximately 248% compared to the typical volume of 1,567 put options.

Valkyrie Bitcoin Miners ETF Stock Performance

Shares of NASDAQ:WGMI traded down $0.30 during midday trading on Monday, hitting $17.18. 78,427 shares of the company’s stock traded hands, compared to its average volume of 425,145. The firm’s fifty day moving average price is $19.68 and its two-hundred day moving average price is $18.23. Valkyrie Bitcoin Miners ETF has a twelve month low of $8.50 and a twelve month high of $27.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Valkyrie Bitcoin Miners ETF during the 1st quarter valued at about $46,000. Redwood Wealth Management Group LLC acquired a new position in shares of Valkyrie Bitcoin Miners ETF during the first quarter worth $285,000. VitalStone Financial LLC boosted its stake in shares of Valkyrie Bitcoin Miners ETF by 1,589.3% in the first 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 during the period. Commonwealth Equity Services LLC acquired a new stake in Valkyrie Bitcoin Miners ETF during the 1st quarter valued at $1,678,000. Finally, Jane Street Group LLC increased its stake in 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 during the period. Institutional investors and hedge funds own 24.15% of the company’s stock.

About Valkyrie Bitcoin Miners ETF

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.