Short Interest in CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Rises By 109.0%

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totaling 49,390 shares, a growth of 109.0% from the May 31st total of 23,635 shares. Based on an average daily volume of 323,200 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On CoinShares Valkyrie Bitcoin Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in CoinShares Valkyrie Bitcoin Fund by 172.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 13,612 shares of the company’s stock worth $337,000 after buying an additional 8,619 shares during the last quarter. IMC Chicago LLC bought a new stake in CoinShares Valkyrie Bitcoin Fund in the first quarter worth approximately $422,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of CoinShares Valkyrie Bitcoin Fund by 40.2% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 23,570 shares of the company’s stock worth $583,000 after purchasing an additional 6,761 shares during the last quarter. Keebeck Wealth Management increased its stake in shares of CoinShares Valkyrie Bitcoin Fund by 112.1% during the 3rd quarter. Keebeck Wealth Management now owns 64,150 shares of the company’s stock worth $2,074,000 after purchasing an additional 33,900 shares during the last quarter. Finally, CPR Investments Inc. raised its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 25.0% during the 4th quarter. CPR Investments Inc. now owns 89,237 shares of the company’s stock valued at $2,207,000 after purchasing an additional 17,843 shares in the last quarter.

CoinShares Valkyrie Bitcoin Fund Stock Performance

BRRR stock traded down $0.60 during mid-day trading on Tuesday, hitting $16.41. The stock had a trading volume of 39,928 shares, compared to its average volume of 329,860. CoinShares Valkyrie Bitcoin Fund has a 1-year low of $16.37 and a 1-year high of $35.70. The company has a fifty day moving average of $20.21 and a 200 day moving average of $21.38.

About CoinShares 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.