CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Trading Down 0.8% – What’s Next?

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) shares were down 0.8% during trading on Thursday . The company traded as low as $24.95 and last traded at $25.22. Approximately 427,430 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 690,302 shares. The stock had previously closed at $25.43.

CoinShares Valkyrie Bitcoin Fund Trading Down 0.8%

The company has a fifty day moving average of $25.44 and a two-hundred day moving average of $29.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BRRR. Harel Insurance Investments & Financial Services Ltd. raised its holdings in CoinShares Valkyrie Bitcoin Fund by 542.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,993 shares of the company’s stock valued at $161,000 after buying an additional 4,216 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of CoinShares Valkyrie Bitcoin Fund during the third quarter valued at $543,000. IMC Chicago LLC bought a new position in shares of CoinShares Valkyrie Bitcoin Fund during the third quarter valued at $1,904,000. Keebeck Wealth Management lifted its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 112.1% during the third 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 period. Finally, Meitav Investment House Ltd. grew its stake in shares of CoinShares Valkyrie Bitcoin Fund by 66.6% in the second quarter. Meitav Investment House Ltd. now owns 72,235 shares of the company’s stock worth $2,201,000 after purchasing an additional 28,874 shares during the last quarter.

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.