Short Interest in Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Decreases By 41.7%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 699,800 shares, a drop of 41.7% from the September 15th total of 1,200,000 shares. Based on an average trading volume of 537,900 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 537,900 shares, the short-interest ratio is presently 1.3 days.

Institutional Trading of Valkyrie Bitcoin Miners ETF

Large investors have recently added to or reduced their stakes in the company. Maridea Wealth Management LLC lifted its holdings in shares of Valkyrie Bitcoin Miners ETF by 124.6% in the 1st quarter. Maridea Wealth Management LLC now owns 82,739 shares of the company’s stock valued at $1,057,000 after buying an additional 45,901 shares during the period. Axxcess Wealth Management LLC acquired a new stake in shares of Valkyrie Bitcoin Miners ETF in the first quarter valued at approximately $447,000. Valeo Financial Advisors LLC acquired a new stake in shares of Valkyrie Bitcoin Miners ETF in the second quarter valued at approximately $682,000. Alamea Verwaltungs GmbH purchased a new position in Valkyrie Bitcoin Miners ETF in the first quarter worth approximately $319,000. Finally, Client First Investment Management LLC purchased a new position in Valkyrie Bitcoin Miners ETF in the third quarter worth approximately $897,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Stock Down 6.3%

Shares of WGMI opened at $56.01 on Wednesday. The company has a 50 day moving average price of $40.60 and a 200-day moving average price of $26.75. Valkyrie Bitcoin Miners ETF has a fifty-two week low of $11.09 and a fifty-two week high of $67.89.

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.