Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) Shares Down 3.2% – Time to Sell?

Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) fell 3.2% on Friday . The stock traded as low as $17.01 and last traded at $17.13. 3,255 shares changed hands during trading, a decline of 71% from the average daily volume of 11,043 shares. The stock had previously closed at $17.69.

Valkyrie Bitcoin Strategy ETF Price Performance

The stock has a 50-day simple moving average of $17.14 and a 200-day simple moving average of $19.76.

Valkyrie Bitcoin Strategy ETF Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%.

Institutional Investors Weigh In On Valkyrie Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sloy Dahl & Holst LLC increased its stake in shares of Valkyrie Bitcoin Strategy ETF by 2.5% in the fourth quarter. Sloy Dahl & Holst LLC now owns 305,035 shares of the company’s stock worth $1,592,000 after purchasing an additional 7,536 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Valkyrie Bitcoin Strategy ETF during the 2nd quarter valued at approximately $147,000. Finally, Jane Street Group LLC purchased a new stake in shares of Valkyrie Bitcoin Strategy ETF during the 1st quarter valued at approximately $207,000. 24.94% of the stock is currently owned by institutional investors.

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.