Short Interest in Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Drops By 14.9%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 751,694 shares, a decline of 14.9% from the March 31st total of 883,096 shares. Currently, 13.2% of the company’s shares are short sold. Based on an average daily trading volume, of 499,936 shares, the short-interest ratio is currently 1.5 days.

Institutional Trading of Valkyrie Bitcoin Miners ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arlington Capital Management Inc. purchased a new stake in Valkyrie Bitcoin Miners ETF in the 1st quarter valued at about $2,491,000. Fifth Third Bancorp purchased a new stake in Valkyrie Bitcoin Miners ETF in the 1st quarter valued at about $418,000. Private Advisor Group LLC raised its holdings in Valkyrie Bitcoin Miners ETF by 62.0% in the 1st quarter. Private Advisor Group LLC now owns 79,204 shares of the company’s stock valued at $2,758,000 after buying an additional 30,309 shares during the period. Maridea Wealth Management LLC raised its holdings in Valkyrie Bitcoin Miners ETF by 7.8% in the 1st quarter. Maridea Wealth Management LLC now owns 100,716 shares of the company’s stock valued at $3,507,000 after buying an additional 7,328 shares during the period. Finally, Osbon Capital Management LLC purchased a new stake in Valkyrie Bitcoin Miners ETF in the 4th quarter valued at about $27,000. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

Valkyrie Bitcoin Miners ETF Stock Performance

Shares of WGMI opened at $48.19 on Friday. Valkyrie Bitcoin Miners ETF has a 12-month low of $13.90 and a 12-month high of $67.89. The company’s 50-day moving average price is $41.21 and its 200 day moving average price is $45.01.

Valkyrie Bitcoin Miners ETF Company Profile

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.