CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Stock Price Down 0.8% – Time to Sell?

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) traded down 0.8% on Thursday . The stock traded as low as $24.95 and last traded at $25.22. 427,430 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 690,302 shares. The stock had previously closed at $25.43.

CoinShares Valkyrie Bitcoin Fund Trading Down 0.8%

The firm has a fifty day moving average price of $25.44 and a 200-day moving average price of $29.77.

Hedge Funds Weigh In On CoinShares Valkyrie Bitcoin Fund

Several hedge funds have recently bought and sold shares of the company. Elequin Capital LP lifted its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 634.3% during the 3rd quarter. Elequin Capital LP now owns 562,013 shares of the company’s stock worth $18,170,000 after acquiring an additional 485,475 shares during the period. Jane Street Group LLC increased its stake in CoinShares Valkyrie Bitcoin Fund by 236.3% in the second 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 last quarter. Meitav Investment House Ltd. raised its position in CoinShares Valkyrie Bitcoin Fund by 28.8% during the third quarter. Meitav Investment House Ltd. now owns 93,040 shares of the company’s stock valued at $3,008,000 after purchasing an additional 20,805 shares in the last quarter. CPR Investments Inc. raised its position in CoinShares Valkyrie Bitcoin Fund by 25.0% during the fourth quarter. CPR Investments Inc. now owns 89,237 shares of the company’s stock valued at $2,207,000 after purchasing an additional 17,843 shares in the last quarter. Finally, Keebeck Wealth Management lifted its stake in CoinShares Valkyrie Bitcoin Fund by 112.1% during 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 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.