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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $38.57, but opened at $36.89. 2x Bitcoin Strategy ETF shares last traded at $37.22, with a volume of 1,124,874 shares changing hands.

2x Bitcoin Strategy ETF Stock Down 3.1 %

The firm’s 50-day moving average is $51.65 and its two-hundred day moving average is $45.22.

Institutional Trading of 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently made changes to their positions in BITX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at $171,000. Jump Financial LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% in 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 period. JBF Capital Inc. acquired a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at $3,881,000. Finally, 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 valued at $14,910,000 after buying an additional 66,398 shares during the period.

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.