Short Interest in Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Drops By 21.0%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) saw a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 1,092,691 shares, a decrease of 21.0% from the January 15th total of 1,383,404 shares. Based on an average daily volume of 856,500 shares, the short-interest ratio is presently 1.3 days. Currently, 14.7% of the company’s shares are sold short. Currently, 14.7% of the company’s shares are sold short. Based on an average daily volume of 856,500 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new stake in Valkyrie Bitcoin Miners ETF in the third quarter valued at about $6,194,000. Arlington Capital Management Inc. acquired a new position in shares of Valkyrie Bitcoin Miners ETF during the 3rd quarter worth about $3,432,000. LPL Financial LLC increased its stake in shares of Valkyrie Bitcoin Miners ETF by 311.6% in the 4th quarter. LPL Financial LLC now owns 73,462 shares of the company’s stock valued at $2,811,000 after acquiring an additional 55,612 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Valkyrie Bitcoin Miners ETF by 70.7% in the 3rd quarter. Private Advisor Group LLC now owns 119,600 shares of the company’s stock valued at $5,291,000 after acquiring an additional 49,528 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Valkyrie Bitcoin Miners ETF in the 2nd quarter valued at approximately $682,000. 24.15% of the stock is currently owned by institutional investors.

Valkyrie Bitcoin Miners ETF Stock Down 3.2%

Shares of NASDAQ:WGMI traded down $1.34 during trading on Tuesday, hitting $40.00. 332,896 shares of the company’s stock were exchanged, compared to its average volume of 800,152. The firm has a 50-day moving average price of $43.74 and a two-hundred day moving average price of $43.00. Valkyrie Bitcoin Miners ETF has a 1-year low of $11.09 and a 1-year 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.