Short Interest in Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Declines By 44.8%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 414,838 shares, a drop of 44.8% from the April 15th total of 751,694 shares. Approximately 6.8% of the company’s shares are short sold. Based on an average trading volume of 450,855 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of Valkyrie Bitcoin Miners ETF by 1.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 19,057 shares of the company’s stock worth $729,000 after acquiring an additional 278 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of Valkyrie Bitcoin Miners ETF by 2.1% in the third quarter. Cresset Asset Management LLC now owns 27,476 shares of the company’s stock worth $1,216,000 after acquiring an additional 563 shares in the last quarter. Osbon Capital Management LLC purchased a new position in shares of Valkyrie Bitcoin Miners ETF in the fourth quarter worth approximately $27,000. Atlatl Advisers LLC increased its position in shares of Valkyrie Bitcoin Miners ETF by 5.9% in the fourth quarter. Atlatl Advisers LLC now owns 25,178 shares of the company’s stock worth $964,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Strategic Advocates LLC purchased a new position in shares of Valkyrie Bitcoin Miners ETF in the third quarter worth approximately $80,000. 24.15% of the stock is owned by hedge funds and other institutional investors.

Valkyrie Bitcoin Miners ETF Price Performance

Valkyrie Bitcoin Miners ETF stock opened at $57.21 on Friday. The firm’s 50 day simple moving average is $44.41 and its 200-day simple moving average is $44.88. Valkyrie Bitcoin Miners ETF has a fifty-two week low of $16.31 and a fifty-two week high of $67.89.

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.