Traders Purchase Large Volume of Valkyrie Bitcoin Miners ETF Put Options (NASDAQ:WGMI)

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) was the recipient of some unusual options trading on Monday. Investors purchased 5,460 put options on the company. This is an increase of 248% compared to the typical daily volume of 1,567 put options.

Valkyrie Bitcoin Miners ETF Stock Down 2.1 %

Valkyrie Bitcoin Miners ETF stock opened at $17.11 on Tuesday. Valkyrie Bitcoin Miners ETF has a one year low of $8.50 and a one year high of $27.78. The business’s fifty day moving average is $19.55 and its 200 day moving average is $18.23.

Institutional Investors Weigh In On Valkyrie Bitcoin Miners ETF

A number of hedge funds have recently added to or reduced their stakes in WGMI. EverSource Wealth Advisors LLC bought a new stake in shares of Valkyrie Bitcoin Miners ETF during the 1st quarter valued at about $46,000. Jane Street Group LLC grew its position in shares of Valkyrie Bitcoin Miners ETF by 2,037.7% during the 1st quarter. Jane Street Group LLC now owns 310,656 shares of the company’s stock valued at $5,685,000 after acquiring an additional 296,124 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Valkyrie Bitcoin Miners ETF in the 1st quarter worth $1,678,000. Redwood Wealth Management Group LLC bought a new position in Valkyrie Bitcoin Miners ETF in the 1st quarter worth $285,000. Finally, VitalStone Financial LLC lifted its position in Valkyrie Bitcoin Miners ETF by 114.0% during the second quarter. VitalStone Financial LLC now owns 42,559 shares of the company’s stock valued at $901,000 after purchasing an additional 22,676 shares in the last quarter. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

About Valkyrie Bitcoin Miners ETF

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.