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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped down prior to trading on Friday . The stock had previously closed at $39.75, but opened at $38.06. 2x Bitcoin Strategy ETF shares last traded at $37.20, with a volume of 1,584,771 shares traded.

2x Bitcoin Strategy ETF Trading Down 6.2 %

The business has a 50-day simple moving average of $48.79 and a 200-day simple moving average of $45.84.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter valued at approximately $171,000. Kingswood Wealth Advisors LLC grew 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 purchasing an additional 66,398 shares during the last quarter. Jump Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% during the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after purchasing an additional 2,862 shares during the period. Finally, JBF Capital Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter valued at about $3,881,000.

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.