Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Trading Down 1.4% – Should You Sell?

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) fell 1.4% during mid-day trading on Monday . The stock traded as low as $42.89 and last traded at $44.44. 1,522,043 shares traded hands during trading, an increase of 88% from the average session volume of 809,631 shares. The stock had previously closed at $45.06.

Valkyrie Bitcoin Miners ETF Price Performance

The company has a 50-day moving average of $44.70 and a 200 day moving average of $41.95.

Hedge Funds Weigh In On Valkyrie Bitcoin Miners ETF

Several large investors have recently modified their holdings of WGMI. Comerica Bank purchased a new stake in Valkyrie Bitcoin Miners ETF during the 4th quarter valued at $383,000. Maridea Wealth Management LLC boosted its stake in Valkyrie Bitcoin Miners ETF by 36.1% during the fourth quarter. Maridea Wealth Management LLC now owns 93,388 shares of the company’s stock worth $3,574,000 after buying an additional 24,774 shares during the period. JPMorgan Chase & Co. increased its position in Valkyrie Bitcoin Miners ETF by 1,303.8% during 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 last quarter. Strategic Advocates LLC purchased a new stake in shares of Valkyrie Bitcoin Miners ETF in the third quarter valued at $80,000. Finally, Arlington Capital Management Inc. purchased a new stake in shares of Valkyrie Bitcoin Miners ETF in the third quarter valued at $3,432,000. Institutional investors own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Company Profile

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.