CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Stock Price Up 0.9% – Here’s What Happened

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR)’s share price rose 0.9% during mid-day trading on Wednesday . The company traded as high as $20.13 and last traded at $19.95. Approximately 336,325 shares traded hands during trading, a decline of 32% from the average daily volume of 496,954 shares. The stock had previously closed at $19.78.

CoinShares Valkyrie Bitcoin Fund Stock Performance

The company’s 50 day moving average is $22.18 and its 200-day moving average is $26.77.

Hedge Funds Weigh In On CoinShares Valkyrie Bitcoin Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Elequin Capital LP grew its stake in shares of CoinShares Valkyrie Bitcoin Fund by 634.3% in the 3rd quarter. Elequin Capital LP now owns 562,013 shares of the company’s stock valued at $18,170,000 after buying an additional 485,475 shares during the period. Jane Street Group LLC raised its stake in CoinShares Valkyrie Bitcoin Fund by 236.3% during the 2nd quarter. Jane Street Group LLC now owns 238,337 shares of the company’s stock worth $7,262,000 after buying an additional 167,477 shares during the period. Meitav Investment House Ltd. raised its stake in CoinShares Valkyrie Bitcoin Fund by 28.8% during the 3rd quarter. Meitav Investment House Ltd. now owns 93,040 shares of the company’s stock worth $3,008,000 after buying an additional 20,805 shares during the period. CPR Investments Inc. boosted its holdings in CoinShares Valkyrie Bitcoin Fund by 25.0% in the fourth quarter. CPR Investments Inc. now owns 89,237 shares of the company’s stock worth $2,207,000 after acquiring an additional 17,843 shares in the last quarter. Finally, Keebeck Wealth Management boosted its holdings in CoinShares Valkyrie Bitcoin Fund by 112.1% in the third quarter. Keebeck Wealth Management now owns 64,150 shares of the company’s stock worth $2,074,000 after acquiring an additional 33,900 shares in the last quarter.

About CoinShares Valkyrie Bitcoin Fund

The Valkyrie Bitcoin Fund (BRRR) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Bitcoin (BTC). It will hold Bitcoin directly, secured through a cold storage wallet. BRRR was launched on Jan 10, 2024 and is issued by Valkyrie.