2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $58.89, but opened at $51.04. 2x Bitcoin Strategy ETF shares last traded at $52.40, with a volume of 4,402,936 shares trading hands.

2x Bitcoin Strategy ETF Stock Down 5.3 %

The firm’s fifty day simple moving average is $58.99 and its two-hundred day simple moving average is $42.18.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were given a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Institutional Trading of 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Graypoint LLC lifted its stake in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after purchasing an additional 2,536 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in 2x Bitcoin Strategy ETF during the 4th quarter worth about $171,000. Finally, Kingswood Wealth Advisors LLC lifted its stake in 2x Bitcoin Strategy ETF by 29.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after acquiring an additional 66,398 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.