CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Short Interest Down 67.7% in September

Key Points

• The CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) experienced a 67.7% decrease in short interest during September, with a total of 43,200 shares shorted as of September 30th.
• Several institutional investors have significantly increased their holdings in the fund, including Jane Street Group LLC, which raised its position by 236.3% to own 238,337 shares valued at $7.26 million.
• The fund's current stock price is $30.10, with a 52-week range of $18.45 to $35.70, indicating strong market fluctuations over the past year.

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR - ) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 43,200 shares, a decrease of 67.7% from the September 15th total of 133,900 shares. Based on an average daily volume of 277,500 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 277,500 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On CoinShares Valkyrie Bitcoin Fund

Institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of CoinShares Valkyrie Bitcoin Fund during the first quarter valued at approximately $209,000. OLD Mission Capital LLC purchased a new stake in shares of CoinShares Valkyrie Bitcoin Fund during the first quarter valued at approximately $221,000. Flow Traders U.S. LLC lifted its position in CoinShares Valkyrie Bitcoin Fund by 158.9% during the first quarter. Flow Traders U.S. LLC now owns 68,913 shares of the company's stock valued at $1,606,000 after purchasing an additional 42,300 shares during the period. Meitav Investment House Ltd. lifted its position in CoinShares Valkyrie Bitcoin Fund by 66.6% during the second quarter. Meitav Investment House Ltd. now owns 72,235 shares of the company's stock valued at $2,201,000 after purchasing an additional 28,874 shares during the period. Finally, Jane Street Group LLC lifted 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 valued at $7,262,000 after purchasing an additional 167,477 shares during the period.

CoinShares Valkyrie Bitcoin Fund Stock Performance

Shares of BRRR opened at $30.10 on Friday. CoinShares Valkyrie Bitcoin Fund has a fifty-two week low of $18.45 and a fifty-two week high of $35.70. The firm's 50-day simple moving average is $32.41 and its two-hundred day simple moving average is $30.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.