Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.00 and traded as high as $31.77. Valkyrie Bitcoin Miners ETF shares last traded at $28.91, with a volume of 968,784 shares traded.

Valkyrie Bitcoin Miners ETF Trading Up 7.0 %

The business has a fifty day moving average price of $23.68 and a 200 day moving average price of $21.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Centaurus Financial Inc. bought a new stake in Valkyrie Bitcoin Miners ETF in the third quarter worth about $336,000. Nwam LLC bought a new stake in Valkyrie Bitcoin Miners ETF during the third quarter worth approximately $346,000. VitalStone Financial LLC grew its position in Valkyrie Bitcoin Miners ETF by 114.0% in the second quarter. VitalStone Financial LLC now owns 42,559 shares of the company’s stock worth $901,000 after buying an additional 22,676 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Valkyrie Bitcoin Miners ETF by 1,008.8% in the third quarter. Creative Planning now owns 150,746 shares of the company’s stock valued at $2,866,000 after buying an additional 137,151 shares in the last quarter. 24.15% of the stock is currently owned by 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.