Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Stock Price Down 2.5% – Here’s What Happened

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) shares dropped 2.5% on Friday . The company traded as low as $45.00 and last traded at $45.73. 693,514 shares were traded during trading, an increase of 10% from the average session volume of 633,092 shares. The stock had previously closed at $46.92.

Valkyrie Bitcoin Miners ETF Stock Down 2.5%

The business’s 50 day moving average price is $55.31 and its 200-day moving average price is $50.45.

Institutional Trading of Valkyrie Bitcoin Miners ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centaurus Financial Inc. boosted its position in shares of Valkyrie Bitcoin Miners ETF by 1.5% during the first quarter. Centaurus Financial Inc. now owns 13,297 shares of the company’s stock worth $463,000 after buying an additional 200 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Valkyrie Bitcoin Miners ETF by 1.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 19,057 shares of the company’s stock worth $729,000 after acquiring an additional 278 shares in the last quarter. Osbon Capital Management LLC acquired a new position in Valkyrie Bitcoin Miners ETF during the 4th quarter worth about $27,000. Atlatl Advisers LLC boosted its holdings in Valkyrie Bitcoin Miners ETF by 5.9% during the 4th quarter. Atlatl Advisers LLC now owns 25,178 shares of the company’s stock valued at $964,000 after acquiring an additional 1,393 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Valkyrie Bitcoin Miners ETF by 51.9% during the 4th quarter. HighTower Advisors LLC now owns 7,761 shares of the company’s stock valued at $297,000 after acquiring an additional 2,652 shares during the period. Hedge funds and other institutional investors own 24.15% of the company’s stock.

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.