2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Down 7.6%

2x Bitcoin Strategy ETF (NYSEARCA:BITX) fell 7.6% during trading on Tuesday . The stock traded as low as $36.65 and last traded at $36.87. 1,508,525 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 3,623,847 shares. The stock had previously closed at $39.90.

2x Bitcoin Strategy ETF Stock Down 9.2 %

The firm has a fifty day moving average price of $46.11 and a 200 day moving average price of $30.24.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently added to or reduced their stakes in BITX. Kingswood Wealth Advisors LLC lifted its holdings in 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after purchasing an additional 114,524 shares during the last quarter. Graypoint LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF during the fourth quarter worth $572,000. Finally, Selway Asset Management acquired a new stake in shares of 2x Bitcoin Strategy ETF during the first quarter worth $399,000.

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.