Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Sees Large Growth in Short Interest

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 549,200 shares, an increase of 39.1% from the March 15th total of 394,800 shares. Currently, 6.6% of the shares of the stock are sold short. Based on an average daily volume of 727,800 shares, the short-interest ratio is presently 0.8 days.

Valkyrie Bitcoin Miners ETF Stock Up 1.1 %

NASDAQ WGMI traded up $0.13 during trading hours on Friday, hitting $12.04. 494,384 shares of the company’s stock traded hands, compared to its average volume of 524,524. Valkyrie Bitcoin Miners ETF has a 52-week low of $11.09 and a 52-week high of $31.89. The firm’s 50-day moving average is $15.94 and its 200-day moving average is $21.28.

Hedge Funds Weigh In On Valkyrie Bitcoin Miners ETF

A number of hedge funds have recently modified their holdings of WGMI. FWL Investment Management LLC purchased a new stake in Valkyrie Bitcoin Miners ETF during the 4th quarter worth about $29,000. BOKF NA purchased a new position in Valkyrie Bitcoin Miners ETF in the fourth quarter worth $33,000. Blue Trust Inc. acquired a new stake in shares of Valkyrie Bitcoin Miners ETF in the fourth quarter valued at about $33,000. Tower Research Capital LLC TRC purchased a new stake in shares of Valkyrie Bitcoin Miners ETF during the 4th quarter worth approximately $173,000. Finally, Cresset Asset Management LLC acquired a new stake in Valkyrie Bitcoin Miners ETF in the fourth quarter valued at $233,000. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

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.