Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) Shares Down 5.4% – Time to Sell?

Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF)’s share price traded down 5.4% on Thursday . The stock traded as low as $13.90 and last traded at $13.92. 26,464 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 39,733 shares. The stock had previously closed at $14.71.

Valkyrie Bitcoin Strategy ETF Stock Down 5.4%

The company has a fifty day moving average of $16.94 and a two-hundred day moving average of $15.45.

Valkyrie Bitcoin Strategy ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Thursday, September 18th were issued a $0.06 dividend. This is a positive change from Valkyrie Bitcoin Strategy ETF’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, September 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.7%.

Hedge Funds Weigh In On Valkyrie Bitcoin Strategy ETF

Several large investors have recently added to or reduced their stakes in BTF. Simplex Trading LLC boosted its holdings in Valkyrie Bitcoin Strategy ETF by 345.3% in the second quarter. Simplex Trading LLC now owns 2,262 shares of the company’s stock worth $29,000 after purchasing an additional 1,754 shares during the period. Larson Financial Group LLC bought a new position in shares of Valkyrie Bitcoin Strategy ETF in the 1st quarter worth about $64,000. Flow Traders U.S. LLC acquired a new position in shares of Valkyrie Bitcoin Strategy ETF in the 2nd quarter valued at about $147,000. Jane Street Group LLC acquired a new position in shares of Valkyrie Bitcoin Strategy ETF in the 1st quarter valued at about $207,000. Finally, CreativeOne Wealth LLC bought a new stake in shares of Valkyrie Bitcoin Strategy ETF during the 2nd quarter valued at about $327,000. 24.94% of the stock is currently owned by institutional investors.

About Valkyrie Bitcoin Strategy ETF

The Valkyrie Bitcoin Strategy ETF (BTF) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund portfolio includes CME Bitcoin Futures, treasuries, corporate bonds, and cash, and does not have direct exposure to bitcoin. BTF was launched on Oct 21, 2021 and is managed by Valkyrie.