Traders Buy Large Volume of Put Options on Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI)

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the target of some unusual options trading activity on Tuesday. Investors purchased 5,288 put options on the stock. This represents an increase of 152% compared to the typical volume of 2,098 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WGMI. Cresset Asset Management LLC increased its stake in shares of Valkyrie Bitcoin Miners ETF by 22.9% in the first quarter. Cresset Asset Management LLC now owns 12,886 shares of the company’s stock worth $165,000 after acquiring an additional 2,400 shares during the period. Alamea Verwaltungs GmbH purchased a new position in Valkyrie Bitcoin Miners ETF during the first quarter valued at approximately $319,000. Maridea Wealth Management LLC lifted its holdings in Valkyrie Bitcoin Miners ETF by 4.4% in the second quarter. Maridea Wealth Management LLC now owns 86,361 shares of the company’s stock valued at $1,964,000 after acquiring an additional 3,622 shares during the period. Matauro LLC boosted its position in Valkyrie Bitcoin Miners ETF by 11.3% in the 2nd quarter. Matauro LLC now owns 38,861 shares of the company’s stock worth $884,000 after purchasing an additional 3,956 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Valkyrie Bitcoin Miners ETF during the 2nd quarter worth approximately $682,000. Institutional investors own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Price Performance

NASDAQ:WGMI traded down $0.83 on Tuesday, reaching $37.10. 208,417 shares of the company’s stock traded hands, compared to its average volume of 698,958. Valkyrie Bitcoin Miners ETF has a 12 month low of $11.09 and a 12 month high of $67.89. The stock has a 50-day simple moving average of $51.10 and a 200-day simple moving average of $36.32.

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.