Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) Trading Down 3.7% – Should You Sell?

Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF)’s stock price dropped 3.7% during trading on Monday . The company traded as low as $20.11 and last traded at $20.39. Approximately 12,948 shares traded hands during trading, a decline of 11% from the average daily volume of 14,509 shares. The stock had previously closed at $21.18.

Valkyrie Bitcoin Strategy ETF Price Performance

The stock’s 50 day moving average is $20.49 and its two-hundred day moving average is $33.61.

Valkyrie Bitcoin Strategy ETF Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Thursday, March 19th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, March 19th.

Hedge Funds Weigh In On Valkyrie Bitcoin Strategy ETF

Large investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in shares of Valkyrie Bitcoin Strategy ETF in the fourth quarter worth $675,000. Sloy Dahl & Holst LLC raised its holdings in Valkyrie Bitcoin Strategy ETF by 2.5% during the fourth quarter. Sloy Dahl & Holst LLC now owns 305,035 shares of the company’s stock worth $1,592,000 after acquiring an additional 7,536 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in Valkyrie Bitcoin Strategy ETF during the second quarter valued at approximately $147,000. Institutional investors and hedge funds own 24.94% of the company’s stock.

Valkyrie Bitcoin Strategy ETF Company Profile

The Valkyrie Bitcoin Strategy ETF (BTF) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund portfolio includes CME Bitcoin Futures, treasuries, corporate bonds, and cash, and does not have direct exposure to bitcoin. BTF was launched on Oct 21, 2021 and is managed by Valkyrie.