Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Short Interest Up 56.0% in July

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,340,000 shares, anincreaseof56.0% from the July 15th total of 858,800 shares. Based on an average trading volume of 636,000 shares, the days-to-cover ratio is presently 2.1 days. Currently,18.6% of the shares of the stock are short sold. Currently,18.6% of the shares of the stock are short sold. Based on an average trading volume of 636,000 shares, the days-to-cover ratio is presently 2.1 days.

Hedge Funds Weigh In On Valkyrie Bitcoin Miners ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nwam LLC boosted its holdings in shares of Valkyrie Bitcoin Miners ETF by 4.0% in the 1st quarter. Nwam LLC now owns 20,286 shares of the company’s stock worth $259,000 after purchasing an additional 774 shares during the period. FWL Investment Management LLC purchased a new position in shares of Valkyrie Bitcoin Miners ETF in the 4th quarter worth approximately $29,000. BOKF NA purchased a new position in shares of Valkyrie Bitcoin Miners ETF in the 4th quarter worth approximately $33,000. Cresset Asset Management LLC boosted its holdings in shares of Valkyrie Bitcoin Miners ETF by 22.9% in the 1st quarter. Cresset Asset Management LLC now owns 12,886 shares of the company’s stock worth $165,000 after purchasing an additional 2,400 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Valkyrie Bitcoin Miners ETF in the 2nd quarter worth approximately $71,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Stock Up 6.0%

NASDAQ:WGMI opened at $28.29 on Tuesday. Valkyrie Bitcoin Miners ETF has a 1 year low of $11.09 and a 1 year high of $31.89. The stock’s 50 day simple moving average is $23.93 and its two-hundred day simple moving average is $19.09.

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.