Valkyrie Bitcoin Fund (NASDAQ:BRRR) Stock Price Down 1% – Should You Sell?

Valkyrie Bitcoin Fund (NASDAQ:BRRR)’s stock price dropped 1% during trading on Friday . The stock traded as low as $19.49 and last traded at $19.59. Approximately 252,637 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 380,868 shares. The stock had previously closed at $19.79.

Valkyrie Bitcoin Fund Stock Performance

The business’s 50 day moving average price is $17.82 and its two-hundred day moving average price is $17.94.

Institutional Investors Weigh In On Valkyrie Bitcoin Fund

Several hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP raised its stake in Valkyrie Bitcoin Fund by 97.4% during the second quarter. Susquehanna International Group LLP now owns 379,739 shares of the company’s stock valued at $6,452,000 after buying an additional 187,348 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Valkyrie Bitcoin Fund in the second quarter worth $603,000. Finally, Jane Street Group LLC purchased a new stake in shares of Valkyrie Bitcoin Fund during the first quarter valued at $8,669,000.

About 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.