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

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 changing hands.

2x Bitcoin Strategy ETF Stock Down 3.0 %

The firm has a fifty day simple moving average of $58.94 and a two-hundred day simple moving average of $41.89.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in 2x Bitcoin Strategy ETF during the fourth quarter worth about $171,000. Graypoint LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after buying an additional 2,536 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 29.9% in 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.

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.