2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Down 3.7% – Time to Sell?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares fell 3.7% during mid-day trading on Thursday . The company traded as low as $55.73 and last traded at $55.79. 1,386,782 shares changed hands during trading, a decline of 82% from the average session volume of 7,552,169 shares. The stock had previously closed at $57.92.

2x Bitcoin Strategy ETF Stock Performance

The business’s 50 day moving average price is $56.78 and its 200-day moving average price is $39.27.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Trading of 2x Bitcoin Strategy ETF

A number of hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter worth $171,000. Finally, Graypoint LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after buying an additional 2,536 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.