CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Trading Down 2% - Time to Sell?

Key Points

• The CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) shares fell 2% during trading, reaching a low of $32.52 before closing at $32.54.
• Institutional investors, including Discipline Wealth Solutions and Flow Traders U.S. LLC, have shown significant interest, increasing their stakes in the fund amid fluctuating performance.
• BRRR is a newly launched exchange-traded fund that aims to track the price performance of spot Bitcoin and holds Bitcoin directly in a cold storage wallet.

CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR - ) shares fell 2% during trading on Friday . The company traded as low as $32.52 and last traded at $32.54. 404,837 shares were traded during mid-day trading, an increase of 32% from the average session volume of 306,666 shares. The stock had previously closed at $33.22.

CoinShares Valkyrie Bitcoin Fund Price Performance

The business has a fifty day moving average price of $32.61 and a 200 day moving average price of $29.14.

Hedge Funds Weigh In On CoinShares Valkyrie Bitcoin Fund

Several institutional investors have recently added to or reduced their stakes in BRRR. Discipline Wealth Solutions LLC purchased a new stake in shares of CoinShares Valkyrie Bitcoin Fund in the fourth quarter worth about $235,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in CoinShares Valkyrie Bitcoin Fund in the 1st quarter valued at approximately $209,000. OLD Mission Capital LLC acquired a new stake in CoinShares Valkyrie Bitcoin Fund in the 1st quarter valued at approximately $221,000. Flow Traders U.S. LLC increased its position in CoinShares Valkyrie Bitcoin Fund by 158.9% in the 1st quarter. Flow Traders U.S. LLC now owns 68,913 shares of the company's stock valued at $1,606,000 after acquiring an additional 42,300 shares during the period. Finally, Meitav Investment House Ltd. increased its position in CoinShares Valkyrie Bitcoin Fund by 66.6% in the 2nd quarter. Meitav Investment House Ltd. now owns 72,235 shares of the company's stock valued at $2,201,000 after acquiring an additional 28,874 shares during the period.

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.

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