Short Interest in Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Decreases By 18.5%

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 355,100 shares, a decline of 18.5% from the February 13th total of 435,600 shares. Based on an average daily trading volume, of 674,600 shares, the days-to-cover ratio is currently 0.5 days. Currently, 4.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in shares of Valkyrie Bitcoin Miners ETF by 26.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 125,256 shares of the company’s stock worth $2,779,000 after buying an additional 26,120 shares during the last quarter. GTS Securities LLC increased its position in Valkyrie Bitcoin Miners ETF by 57.8% during the 4th quarter. GTS Securities LLC now owns 54,136 shares of the company’s stock worth $1,201,000 after purchasing an additional 19,837 shares in the last quarter. Maridea Wealth Management LLC purchased a new stake in Valkyrie Bitcoin Miners ETF during the 4th quarter worth about $817,000. Redwood Wealth Management Group LLC increased its position in Valkyrie Bitcoin Miners ETF by 32.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 26,715 shares of the company’s stock worth $592,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Nwam LLC increased its position in Valkyrie Bitcoin Miners ETF by 7.3% during the 4th quarter. Nwam LLC now owns 19,512 shares of the company’s stock worth $433,000 after purchasing an additional 1,333 shares in the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Stock Up 0.5 %

NASDAQ:WGMI opened at $15.37 on Tuesday. Valkyrie Bitcoin Miners ETF has a 52-week low of $12.76 and a 52-week high of $31.89. The stock has a fifty day simple moving average of $21.01 and a 200-day simple moving average of $22.10.

Valkyrie Bitcoin Miners ETF Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th were paid a dividend of $0.0493 per share. The ex-dividend date of this dividend was Tuesday, December 24th.

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.