CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Trading Down 0.8% – Should You Sell?

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) shares dropped 0.8% during mid-day trading on Thursday . The stock traded as low as $24.95 and last traded at $25.22. Approximately 427,430 shares changed hands during 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 Stock Up 0.1%

The firm has a 50 day moving average price of $25.41 and a 200-day moving average price of $29.73.

Institutional Investors Weigh In On CoinShares Valkyrie Bitcoin Fund

Several institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of CoinShares Valkyrie Bitcoin Fund by 542.6% during the third 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 period. Meitav Investment House Ltd. lifted its stake in shares of CoinShares Valkyrie Bitcoin Fund by 28.8% during the 3rd quarter. Meitav Investment House Ltd. now owns 93,040 shares of the company’s stock worth $3,008,000 after acquiring an additional 20,805 shares during the last quarter. CPR Investments Inc. lifted its stake in shares of CoinShares Valkyrie Bitcoin Fund by 25.0% during the 4th quarter. CPR Investments Inc. now owns 89,237 shares of the company’s stock worth $2,207,000 after acquiring an additional 17,843 shares during the last quarter. Elequin Capital LP boosted its holdings in CoinShares Valkyrie Bitcoin Fund by 634.3% during the 3rd quarter. Elequin Capital LP now owns 562,013 shares of the company’s stock valued at $18,170,000 after acquiring an additional 485,475 shares during the period. Finally, IMC Chicago LLC bought a new position in CoinShares Valkyrie Bitcoin Fund in the 3rd quarter valued at $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.