2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Down 4.2%

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares dropped 4.2% during mid-day trading on Tuesday . The company traded as low as $33.57 and last traded at $33.61. Approximately 1,734,380 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 4,160,520 shares. The stock had previously closed at $35.09.

2x Bitcoin Strategy ETF Price Performance

The business has a fifty day moving average of $40.67 and a 200-day moving average of $37.18.

2x Bitcoin Strategy ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 23rd were issued a $0.9677 dividend. The ex-dividend date was Wednesday, May 22nd.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently modified their holdings of the company. Kingswood Wealth Advisors LLC lifted its stake in 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after acquiring an additional 114,524 shares in the last quarter. Graypoint LLC bought a new position in 2x Bitcoin Strategy ETF during the 4th quarter valued at $572,000. Selway Asset Management bought a new position in 2x Bitcoin Strategy ETF during the 1st quarter valued at $399,000. Finally, VitalStone Financial LLC lifted its stake in 2x Bitcoin Strategy ETF by 142.3% during the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after acquiring an additional 925 shares in the last quarter.

2x Bitcoin Strategy ETF Company Profile

The 2x Bitcoin Strategy ETF (BITX) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures Daily Roll index. The fund aims to provide 2x the daily price movements of an index based on rolling front-month CME bitcoin futures. BITX was launched on Jun 27, 2023 and is managed by Volatility Shares.