Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.00 and traded as high as $31.77. Valkyrie Bitcoin Miners ETF shares last traded at $28.91, with a volume of 968,784 shares traded.

Valkyrie Bitcoin Miners ETF Price Performance

The company has a 50-day moving average price of $23.46 and a 200 day moving average price of $21.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Creative Planning raised its position in shares of Valkyrie Bitcoin Miners ETF by 1,008.8% in the 3rd quarter. Creative Planning now owns 150,746 shares of the company’s stock worth $2,866,000 after acquiring an additional 137,151 shares in the last quarter. VitalStone Financial LLC raised its position in shares of Valkyrie Bitcoin Miners ETF by 114.0% in the 2nd quarter. VitalStone Financial LLC now owns 42,559 shares of the company’s stock worth $901,000 after acquiring an additional 22,676 shares in the last quarter. Nwam LLC bought a new position in shares of Valkyrie Bitcoin Miners ETF in the 3rd quarter worth $346,000. Finally, Centaurus Financial Inc. bought a new position in shares of Valkyrie Bitcoin Miners ETF in the 3rd quarter worth $336,000. 24.15% of the stock is owned by institutional investors.

Valkyrie Bitcoin Miners ETF Company Profile

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.