CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Sees Large Increase in Short Interest

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 123,543 shares, an increase of 85.0% from the September 30th total of 66,777 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 34,479 shares, the days-to-cover ratio is currently 3.6 days.

CoinShares Valkyrie Bitcoin Fund Price Performance

Shares of CoinShares Valkyrie Bitcoin Fund stock traded up $0.11 during trading on Monday, hitting $21.72. 1,508 shares of the stock traded hands, compared to its average volume of 216,292. CoinShares Valkyrie Bitcoin Fund has a 52 week low of $16.37 and a 52 week high of $30.52. The firm’s fifty day moving average is $22.84 and its 200-day moving average is $20.69.

Institutional Investors Weigh In On CoinShares Valkyrie Bitcoin Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of BRRR. IMC Chicago LLC bought a new stake in CoinShares Valkyrie Bitcoin Fund in the 1st quarter worth about $422,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in CoinShares Valkyrie Bitcoin Fund by 44.4% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 19,656 shares of the company’s stock valued at $376,000 after acquiring an additional 6,044 shares during the period. Finally, Meitav Investment House Ltd. boosted its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 45.1% during the 1st quarter. Meitav Investment House Ltd. now owns 167,112 shares of the company’s stock valued at $3,197,000 after acquiring an additional 51,953 shares during the last quarter.

CoinShares Valkyrie Bitcoin Fund Company Profile

The Valkyrie Bitcoin Fund (BRRR) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Bitcoin (BTC). It will hold Bitcoin directly, secured through a cold storage wallet. BRRR was launched on Jan 10, 2024 and is issued by Valkyrie.