CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Shares Up 2.6% – Time to Buy?

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR)’s stock price rose 2.6% on Tuesday . The stock traded as high as $26.73 and last traded at $26.32. Approximately 391,828 shares changed hands during trading, an increase of 16% from the average daily volume of 338,872 shares. The stock had previously closed at $25.65.

CoinShares Valkyrie Bitcoin Fund Stock Performance

The stock’s 50 day simple moving average is $29.25 and its 200-day simple moving average is $30.82.

Hedge Funds Weigh In On CoinShares Valkyrie Bitcoin Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRRR. Harel Insurance Investments & Financial Services Ltd. lifted its position in CoinShares Valkyrie Bitcoin Fund by 542.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,993 shares of the company’s stock worth $161,000 after acquiring an additional 4,216 shares during the period. OLD Mission Capital LLC purchased a new position in shares of CoinShares Valkyrie Bitcoin Fund in the first quarter worth about $221,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of CoinShares Valkyrie Bitcoin Fund during the third quarter worth about $543,000. Flow Traders U.S. LLC lifted its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 158.9% during the first quarter. Flow Traders U.S. LLC now owns 68,913 shares of the company’s stock worth $1,606,000 after purchasing an additional 42,300 shares during the period. Finally, IMC Chicago LLC purchased a new stake in CoinShares Valkyrie Bitcoin Fund in the third quarter valued at approximately $1,904,000.

CoinShares Valkyrie Bitcoin Fund Company Profile

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.