Short Interest in Valkyrie Bitcoin Fund (NASDAQ:BRRR) Expands By 75.9%

Valkyrie Bitcoin Fund (NASDAQ:BRRR) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 187,200 shares, a growth of 75.9% from the August 31st total of 106,400 shares. Based on an average daily volume of 301,200 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Valkyrie Bitcoin Fund

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Valkyrie Bitcoin Fund during the 2nd quarter valued at approximately $603,000. IMC Chicago LLC purchased a new position in Valkyrie Bitcoin Fund during the 1st quarter valued at approximately $2,666,000. Susquehanna International Group LLP grew its holdings in Valkyrie Bitcoin Fund by 97.4% during the 2nd quarter. Susquehanna International Group LLP now owns 379,739 shares of the company’s stock valued at $6,452,000 after buying an additional 187,348 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Valkyrie Bitcoin Fund during the 1st quarter valued at approximately $8,669,000.

Valkyrie Bitcoin Fund Stock Performance

Shares of NASDAQ:BRRR traded up $0.26 during trading on Friday, hitting $18.59. 446,559 shares of the company’s stock were exchanged, compared to its average volume of 406,863. The business’s 50-day simple moving average is $17.24 and its 200 day simple moving average is $18.07. Valkyrie Bitcoin Fund has a 52-week low of $10.94 and a 52-week high of $20.88.

About Valkyrie Bitcoin Fund

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.