CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Trading 2% Higher – What’s Next?

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR)’s stock price traded up 2% during mid-day trading on Tuesday . The company traded as high as $18.87 and last traded at $18.73. Approximately 36,620 shares changed hands during trading, a decline of 88% from the average daily volume of 306,610 shares. The stock had previously closed at $18.36.

CoinShares Valkyrie Bitcoin Fund Trading Up 2.0%

The company’s fifty day moving average price is $18.83 and its 200 day moving average price is $20.58.

Hedge Funds Weigh In On CoinShares Valkyrie Bitcoin Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its position in shares of 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 valued at $7,262,000 after acquiring an additional 167,477 shares during the period. Keebeck Wealth Management increased its position in shares of 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 purchasing an additional 33,900 shares during the period. CPR Investments Inc. increased its position in shares of 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 purchasing an additional 17,843 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in CoinShares Valkyrie Bitcoin Fund by 40.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 23,570 shares of the company’s stock valued at $583,000 after purchasing an additional 6,761 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in CoinShares Valkyrie Bitcoin Fund by 172.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 13,612 shares of the company’s stock valued at $337,000 after purchasing an additional 8,619 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.