Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Trading Up 3.1% – Still a Buy?

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) shares traded up 3.1% during mid-day trading on Friday . The stock traded as high as $26.57 and last traded at $25.37. 457,933 shares changed hands during trading, a decline of 20% from the average session volume of 575,958 shares. The stock had previously closed at $24.60.

Valkyrie Bitcoin Miners ETF Stock Up 3.1 %

The firm’s 50-day moving average price is $26.07 and its 200-day moving average price is $22.19.

Valkyrie Bitcoin Miners ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th were issued a $0.0493 dividend. The ex-dividend date of this dividend was Tuesday, December 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centaurus Financial Inc. acquired a new stake in shares of Valkyrie Bitcoin Miners ETF in the third quarter valued at about $336,000. Nwam LLC acquired a new stake in Valkyrie Bitcoin Miners ETF in the third quarter valued at approximately $346,000. Finally, Creative Planning raised its stake in shares of Valkyrie Bitcoin Miners ETF by 1,008.8% during the third quarter. Creative Planning now owns 150,746 shares of the company’s stock valued at $2,866,000 after purchasing an additional 137,151 shares during the period. Institutional investors and hedge funds own 24.15% of the company’s stock.

Valkyrie Bitcoin Miners ETF Company Profile

The Valkyrie Bitcoin Miners ETF (WGMI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund provides active exposure to companies that derive at least 50% of their revenue from bitcoin mining operations and/or services related to bitcoin mining. WGMI was launched on Feb 7, 2022 and is managed by Valkyrie.