Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) Stock Price Down 4.3% – What’s Next?

Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF)’s stock price was down 4.3% during trading on Tuesday . The company traded as low as $18.44 and last traded at $18.54. Approximately 30,186 shares traded hands during trading, a decline of 22% from the average daily volume of 38,781 shares. The stock had previously closed at $19.38.

Valkyrie Bitcoin Strategy ETF Price Performance

The stock’s 50 day simple moving average is $17.68 and its two-hundred day simple moving average is $14.26.

Valkyrie Bitcoin Strategy ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Thursday, September 18th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $0.24 annualized dividend and a yield of 1.3%. This is a positive change from Valkyrie Bitcoin Strategy ETF’s previous quarterly dividend of $0.05.

Institutional Trading of Valkyrie Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC raised its holdings in Valkyrie Bitcoin Strategy ETF by 345.3% during the 2nd quarter. Simplex Trading LLC now owns 2,262 shares of the company’s stock worth $29,000 after purchasing an additional 1,754 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Valkyrie Bitcoin Strategy ETF during the 1st quarter worth approximately $64,000. Flow Traders U.S. LLC bought a new stake in shares of Valkyrie Bitcoin Strategy ETF during the second quarter worth approximately $147,000. Jane Street Group LLC acquired a new position in Valkyrie Bitcoin Strategy ETF in the first quarter valued at approximately $207,000. Finally, CreativeOne Wealth LLC bought a new position in Valkyrie Bitcoin Strategy ETF in the second quarter valued at approximately $327,000. 24.94% of the stock is currently owned by institutional investors and hedge funds.

About Valkyrie Bitcoin Strategy ETF

The Valkyrie Bitcoin Strategy ETF (BTF) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund portfolio includes CME Bitcoin Futures, treasuries, corporate bonds, and cash, and does not have direct exposure to bitcoin. BTF was launched on Oct 21, 2021 and is managed by Valkyrie.