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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $65.54, but opened at $63.49. 2x Bitcoin Strategy ETF shares last traded at $62.70, with a volume of 2,131,401 shares traded.

2x Bitcoin Strategy ETF Stock Down 3.9 %

The stock has a 50 day simple moving average of $57.95 and a two-hundred day simple moving average of $39.93.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently declared 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 Investors Weigh In On 2x Bitcoin Strategy ETF

Hedge funds have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC raised its position 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 buying an additional 66,398 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of 2x Bitcoin Strategy ETF during the fourth quarter worth about $171,000. Finally, Graypoint LLC raised its holdings 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.

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.