CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Trading Down 1.7% – Here’s What Happened

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR)’s share price were down 1.7% during mid-day trading on Thursday . The company traded as low as $18.54 and last traded at $18.91. Approximately 289,500 shares were traded during trading, a decline of 32% from the average daily volume of 425,960 shares. The stock had previously closed at $19.24.

CoinShares Valkyrie Bitcoin Fund Price Performance

The firm’s 50 day moving average is $20.03 and its two-hundred day moving average is $25.39.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Elequin Capital LP raised its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 634.3% in the 3rd quarter. Elequin Capital LP now owns 562,013 shares of the company’s stock valued at $18,170,000 after purchasing an additional 485,475 shares during the period. Jane Street Group LLC increased its position 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 during the last quarter. IMC Chicago LLC bought a new stake in CoinShares Valkyrie Bitcoin Fund in the third quarter valued at approximately $1,904,000. Keebeck Wealth Management lifted its position in shares of CoinShares Valkyrie Bitcoin Fund by 112.1% in the third quarter. Keebeck Wealth Management now owns 64,150 shares of the company’s stock valued at $2,074,000 after buying an additional 33,900 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its position in shares of CoinShares Valkyrie Bitcoin Fund by 28.8% in the third quarter. Meitav Investment House Ltd. now owns 93,040 shares of the company’s stock valued at $3,008,000 after buying an additional 20,805 shares during the last quarter.

CoinShares Valkyrie Bitcoin Fund Company Profile

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.