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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down prior to trading on Monday . The stock had previously closed at $41.55, but opened at $37.37. 2x Bitcoin Strategy ETF shares last traded at $35.33, with a volume of 2,940,479 shares changing hands.

2x Bitcoin Strategy ETF Trading Down 17.3 %

The firm has a 50-day simple moving average of $53.43 and a 200-day simple moving average of $44.98.

2x Bitcoin Strategy ETF Cuts Dividend

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

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 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. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at $171,000. JBF Capital Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at about $3,881,000. Finally, Jump Financial LLC raised its holdings in 2x Bitcoin Strategy ETF by 8.0% during the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock valued at $2,011,000 after buying an additional 2,862 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.