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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down prior to trading 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 trading hands.

2x Bitcoin Strategy ETF Trading Down 3.9 %

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

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently modified their holdings of BITX. Kingswood Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 66,398 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in 2x Bitcoin Strategy ETF during the fourth quarter worth $171,000. Finally, Graypoint LLC grew its holdings in 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the last quarter.

About 2x Bitcoin Strategy ETF

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.