2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Down 5.9% – Time to Sell?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price traded down 5.9% during mid-day trading on Tuesday . The stock traded as low as $50.39 and last traded at $50.41. 5,528,799 shares were traded during trading, a decline of 38% from the average session volume of 8,935,689 shares. The stock had previously closed at $53.58.

2x Bitcoin Strategy ETF Trading Up 5.0 %

The firm’s fifty day moving average is $57.12 and its 200-day moving average is $43.50.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were paid a $0.5768 dividend. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BITX. Kingswood Wealth Advisors LLC grew its position in 2x Bitcoin Strategy ETF by 29.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after buying an additional 66,398 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of 2x Bitcoin Strategy ETF in the fourth quarter worth $171,000. Graypoint LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in 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 during the period. JBF Capital Inc. bought a new position in shares of 2x Bitcoin Strategy ETF in the fourth quarter worth $3,881,000. Finally, Jump Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% in the fourth 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.

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.