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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped down prior to trading on Monday . The stock had previously closed at $32.76, but opened at $32.04. 2x Bitcoin Strategy ETF shares last traded at $31.67, with a volume of 1,678,404 shares.

2x Bitcoin Strategy ETF Trading Down 0.8 %

The firm has a 50-day simple moving average of $27.64 and a 200 day simple moving average of $34.58.

Institutional Trading of 2x Bitcoin Strategy ETF

Hedge funds have recently made changes to their positions in the stock. VitalStone Financial LLC increased its position in shares of 2x Bitcoin Strategy ETF by 142.3% during the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after acquiring an additional 925 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in 2x Bitcoin Strategy ETF by 22.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after purchasing an additional 30,991 shares during the period. Finally, Hollencrest Capital Management bought a new stake in 2x Bitcoin Strategy ETF during the 2nd quarter worth approximately $40,000.

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.