CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Trading Down 3.9% – Time to Sell?

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) were down 3.9% on Friday . The company traded as low as $26.59 and last traded at $26.61. Approximately 320,162 shares were traded during trading, a decline of 5% from the average daily volume of 338,101 shares. The stock had previously closed at $27.68.

CoinShares Valkyrie Bitcoin Fund Price Performance

The firm has a 50 day simple moving average of $31.55 and a 200-day simple moving average of $31.19.

Institutional Trading of CoinShares Valkyrie Bitcoin Fund

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in CoinShares Valkyrie Bitcoin Fund by 236.3% during the second quarter. Jane Street Group LLC now owns 238,337 shares of the company’s stock worth $7,262,000 after buying an additional 167,477 shares in the last quarter. Meitav Investment House Ltd. increased its stake in shares of CoinShares Valkyrie Bitcoin Fund by 28.8% in the 3rd quarter. Meitav Investment House Ltd. now owns 93,040 shares of the company’s stock valued at $3,008,000 after purchasing an additional 20,805 shares during the last quarter. Flow Traders U.S. LLC raised its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 158.9% during the 1st quarter. Flow Traders U.S. LLC now owns 68,913 shares of the company’s stock worth $1,606,000 after buying an additional 42,300 shares in the last quarter. Keebeck Wealth Management lifted its position in shares of CoinShares Valkyrie Bitcoin Fund by 112.1% during the 3rd quarter. Keebeck Wealth Management now owns 64,150 shares of the company’s stock worth $2,074,000 after buying an additional 33,900 shares during the last quarter. Finally, IMC Chicago LLC acquired a new stake in CoinShares Valkyrie Bitcoin Fund in the third quarter valued at about $1,904,000.

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.