Investors Buy Large Volume of Valkyrie Bitcoin Miners ETF Put Options (NASDAQ:WGMI)

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the target of unusually large options trading on Tuesday. Traders purchased 5,288 put options on the stock. This represents an increase of 152% compared to the typical daily volume of 2,098 put options.

Hedge Funds Weigh In On Valkyrie Bitcoin Miners ETF

Several institutional investors have recently modified their holdings of the stock. Strategic Advocates LLC acquired a new position in shares of Valkyrie Bitcoin Miners ETF in the 3rd quarter valued at $80,000. FNY Investment Advisers LLC bought a new position in Valkyrie Bitcoin Miners ETF during the second quarter worth about $71,000. Blue Trust Inc. grew its stake in Valkyrie Bitcoin Miners ETF by 157.7% in the third quarter. Blue Trust Inc. now owns 3,878 shares of the company’s stock valued at $172,000 after acquiring an additional 2,373 shares during the period. JPMorgan Chase & Co. grew its stake in Valkyrie Bitcoin Miners ETF by 1,303.8% in the third quarter. JPMorgan Chase & Co. now owns 5,573 shares of the company’s stock valued at $247,000 after acquiring an additional 5,176 shares during the period. Finally, Cresset Asset Management LLC increased its holdings in shares of Valkyrie Bitcoin Miners ETF by 22.9% in the first quarter. Cresset Asset Management LLC now owns 12,886 shares of the company’s stock worth $165,000 after acquiring an additional 2,400 shares in the last quarter. 24.15% of the stock is currently owned by institutional investors and hedge funds.

Valkyrie Bitcoin Miners ETF Trading Down 4.8%

NASDAQ WGMI opened at $36.51 on Thursday. The stock has a 50-day simple moving average of $50.42 and a 200 day simple moving average of $36.47. Valkyrie Bitcoin Miners ETF has a 12 month low of $11.09 and a 12 month 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.