Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Shares Up 3.7% – What’s Next?

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI)’s share price rose 3.7% during trading on Thursday . The company traded as high as $58.82 and last traded at $57.19. 351,060 shares changed hands during trading, a decline of 46% from the average session volume of 647,119 shares. The stock had previously closed at $55.13.

Valkyrie Bitcoin Miners ETF Stock Down 3.0%

The company’s 50 day moving average price is $62.39 and its 200 day moving average price is $49.41.

Institutional Investors Weigh In On Valkyrie Bitcoin Miners ETF

A number of hedge funds have recently added to or reduced their stakes in WGMI. Centaurus Financial Inc. boosted its holdings in Valkyrie Bitcoin Miners ETF by 1.5% in the 1st quarter. Centaurus Financial Inc. now owns 13,297 shares of the company’s stock valued at $463,000 after purchasing an additional 200 shares in the last quarter. Objective Capital Management LLC acquired a new position in Valkyrie Bitcoin Miners ETF during the 1st quarter worth approximately $317,000. Arlington Capital Management Inc. acquired a new position in Valkyrie Bitcoin Miners ETF during the 1st quarter worth approximately $2,491,000. Fifth Third Bancorp purchased a new position in shares of Valkyrie Bitcoin Miners ETF during the 1st quarter worth approximately $418,000. Finally, Private Advisor Group LLC raised its stake in shares of Valkyrie Bitcoin Miners ETF by 62.0% during the 1st quarter. Private Advisor Group LLC now owns 79,204 shares of the company’s stock worth $2,758,000 after buying an additional 30,309 shares in the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.

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.