Short Interest in Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Drops By 50.4%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 221,500 shares, a decline of 50.4% from the October 31st total of 446,200 shares. Based on an average daily trading volume, of 511,600 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Valkyrie Bitcoin Miners ETF

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Valkyrie Bitcoin Miners ETF in the first quarter worth about $46,000. Centaurus Financial Inc. bought a new stake in Valkyrie Bitcoin Miners ETF during the 3rd quarter worth approximately $336,000. Nwam LLC purchased a new stake in Valkyrie Bitcoin Miners ETF in the 3rd quarter worth approximately $346,000. VitalStone Financial LLC boosted its holdings in Valkyrie Bitcoin Miners ETF by 114.0% in the 2nd quarter. VitalStone Financial LLC now owns 42,559 shares of the company’s stock valued at $901,000 after purchasing an additional 22,676 shares during the period. Finally, Creative Planning grew its position in shares of Valkyrie Bitcoin Miners ETF by 1,008.8% during the 3rd quarter. Creative Planning now owns 150,746 shares of the company’s stock valued at $2,866,000 after purchasing an additional 137,151 shares in the last quarter. Hedge funds and other institutional investors own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Stock Performance

NASDAQ:WGMI opened at $29.14 on Friday. Valkyrie Bitcoin Miners ETF has a 1 year low of $11.12 and a 1 year high of $30.82. The stock’s fifty day moving average price is $22.72 and its two-hundred day moving average price is $20.63.

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.