Short Interest in Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Declines By 44.8%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 414,838 shares, a decline of 44.8% from the April 15th total of 751,694 shares. Based on an average daily volume of 450,855 shares, the short-interest ratio is currently 0.9 days. Approximately 6.8% of the company’s stock are short sold.

Valkyrie Bitcoin Miners ETF Stock Down 7.1%

Shares of WGMI opened at $57.21 on Friday. The company’s 50 day moving average price is $44.41 and its 200 day moving average price is $44.88. Valkyrie Bitcoin Miners ETF has a 52 week low of $16.31 and a 52 week high of $67.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Objective Capital Management LLC purchased a new position in Valkyrie Bitcoin Miners ETF during the first quarter valued at approximately $317,000. Arlington Capital Management Inc. purchased a new position in Valkyrie Bitcoin Miners ETF during the first quarter valued at approximately $2,491,000. Fifth Third Bancorp purchased a new position in Valkyrie Bitcoin Miners ETF during the first quarter valued at approximately $418,000. Private Advisor Group LLC grew its position in Valkyrie Bitcoin Miners ETF by 62.0% during the first quarter. Private Advisor Group LLC now owns 79,204 shares of the company’s stock valued at $2,758,000 after purchasing an additional 30,309 shares in the last quarter. Finally, Maridea Wealth Management LLC lifted its stake in Valkyrie Bitcoin Miners ETF by 7.8% in the first quarter. Maridea Wealth Management LLC now owns 100,716 shares of the company’s stock valued at $3,507,000 after acquiring an additional 7,328 shares during the last quarter. 24.15% of the stock is owned by hedge funds and other institutional investors.

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.