Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Shares Up 3.2% – Here’s What Happened

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI)’s stock price shot up 3.2% on Friday . The company traded as high as $68.31 and last traded at $65.97. 526,399 shares were traded during mid-day trading, a decline of 16% from the average session volume of 629,107 shares. The stock had previously closed at $63.92.

Valkyrie Bitcoin Miners ETF Stock Up 3.2%

The stock has a 50 day moving average price of $55.04 and a two-hundred day moving average price of $46.73.

Institutional Trading of Valkyrie Bitcoin Miners ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in WGMI. Cresset Asset Management LLC increased its stake in shares of Valkyrie Bitcoin Miners ETF by 108.9% in the second quarter. Cresset Asset Management LLC now owns 26,913 shares of the company’s stock valued at $612,000 after buying an additional 14,027 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Valkyrie Bitcoin Miners ETF by 1,303.8% in the third quarter. JPMorgan Chase & Co. now owns 5,573 shares of the company’s stock valued at $247,000 after acquiring an additional 5,176 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in Valkyrie Bitcoin Miners ETF in the third quarter valued at about $611,000. Private Advisor Group LLC boosted its holdings in Valkyrie Bitcoin Miners ETF by 70.7% in the third quarter. Private Advisor Group LLC now owns 119,600 shares of the company’s stock valued at $5,291,000 after acquiring an additional 49,528 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in Valkyrie Bitcoin Miners ETF in the third quarter valued at about $6,194,000. 24.15% of the stock is currently owned by institutional investors and hedge funds.

About Valkyrie Bitcoin Miners ETF

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.