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

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

Hedge Funds Weigh In On Valkyrie Bitcoin Miners ETF

A number of hedge funds and other institutional investors have recently modified their holdings of WGMI. EverSource Wealth Advisors LLC purchased a new stake in shares of Valkyrie Bitcoin Miners ETF in the first quarter worth about $46,000. Jane Street Group LLC raised its holdings 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 acquiring an additional 296,124 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Valkyrie Bitcoin Miners ETF during the 3rd quarter valued at approximately $336,000. Nwam LLC purchased a new position in shares of Valkyrie Bitcoin Miners ETF in the third quarter valued at $346,000. Finally, Creative Planning increased its position in Valkyrie Bitcoin Miners ETF by 1,008.8% in the third quarter. Creative Planning now owns 150,746 shares of the company’s stock worth $2,866,000 after purchasing an additional 137,151 shares during the last quarter. Institutional investors own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Stock Up 2.3 %

Shares of WGMI opened at $28.62 on Friday. Valkyrie Bitcoin Miners ETF has a 1 year low of $11.12 and a 1 year high of $30.82. The company has a 50 day simple moving average of $22.49 and a two-hundred day simple moving average of $20.53.

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.