CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Short Interest Up 185.2% in May

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 25,500 shares, a growth of 185.2% from the April 30th total of 8,941 shares. Based on an average daily volume of 164,136 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

CoinShares Valkyrie Bitcoin Fund Stock Performance

BRRR stock traded up $0.03 during midday trading on Friday, hitting $20.70. The company had a trading volume of 437,307 shares, compared to its average volume of 337,314. CoinShares Valkyrie Bitcoin Fund has a 52 week low of $17.58 and a 52 week high of $35.70. The stock’s 50 day moving average price is $21.03 and its 200 day moving average price is $22.61.

Hedge Funds Weigh In On CoinShares Valkyrie Bitcoin Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in BRRR. Elequin Capital LP raised its holdings in CoinShares Valkyrie Bitcoin Fund by 634.3% in the third quarter. Elequin Capital LP now owns 562,013 shares of the company’s stock worth $18,170,000 after purchasing an additional 485,475 shares in the last quarter. Jane Street Group LLC raised its holdings 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 worth $7,262,000 after purchasing an additional 167,477 shares in the last quarter. IMC Chicago LLC bought a new position in CoinShares Valkyrie Bitcoin Fund in the third quarter worth $1,904,000. CPR Investments Inc. raised its holdings in CoinShares Valkyrie Bitcoin Fund by 63.0% in the first quarter. CPR Investments Inc. now owns 145,426 shares of the company’s stock worth $2,782,000 after purchasing an additional 56,189 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in CoinShares Valkyrie Bitcoin Fund by 45.1% in the first quarter. Meitav Investment House Ltd. now owns 167,112 shares of the company’s stock worth $3,197,000 after purchasing an additional 51,953 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.