2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – Time to Sell?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $70.55, but opened at $67.44. 2x Bitcoin Strategy ETF shares last traded at $66.73, with a volume of 2,977,182 shares trading hands.

2x Bitcoin Strategy ETF Stock Performance

The firm’s fifty day moving average is $46.90 and its 200 day moving average is $37.03.

2x Bitcoin Strategy ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were given a dividend of $0.5768 per share. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of 2x Bitcoin Strategy ETF during the second quarter valued at $40,000. VitalStone Financial LLC increased its position in 2x Bitcoin Strategy ETF by 128.3% in the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after buying an additional 2,020 shares in the last quarter. Finally, Graypoint LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after acquiring an additional 2,536 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.