Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) Trading Down 3.2% – Time to Sell?

Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF)’s share price dropped 3.2% during mid-day trading on Friday . The stock traded as low as $17.01 and last traded at $17.13. 3,255 shares changed hands during trading, a decline of 71% from the average session volume of 11,043 shares. The stock had previously closed at $17.69.

Valkyrie Bitcoin Strategy ETF Stock Performance

The stock has a 50 day moving average price of $17.14 and a 200 day moving average price of $19.76.

Valkyrie Bitcoin Strategy ETF Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 17th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, June 17th.

Institutional Trading of Valkyrie Bitcoin Strategy ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in Valkyrie Bitcoin Strategy ETF in the fourth quarter valued at about $675,000. Sloy Dahl & Holst LLC increased its stake in shares of Valkyrie Bitcoin Strategy ETF by 2.5% during the 4th quarter. Sloy Dahl & Holst LLC now owns 305,035 shares of the company’s stock worth $1,592,000 after purchasing an additional 7,536 shares during the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in shares of Valkyrie Bitcoin Strategy ETF during the 2nd quarter worth approximately $147,000. Institutional investors own 24.94% of the company’s stock.

About Valkyrie Bitcoin Strategy ETF

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.