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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down prior to trading on Wednesday . The stock had previously closed at $70.55, but opened at $67.44. 2x Bitcoin Strategy ETF shares last traded at $66.73, with a volume of 2,977,182 shares trading hands.

2x Bitcoin Strategy ETF Price Performance

The firm has a 50 day moving average of $48.24 and a 200-day moving average of $37.33.

2x Bitcoin Strategy ETF Cuts Dividend

The business also recently announced 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 was Monday, December 16th.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF during the 2nd quarter worth approximately $40,000. Graypoint LLC raised its position in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares in the last quarter. Finally, VitalStone Financial LLC lifted its stake in 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after purchasing an additional 2,020 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.