2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Down 4.1% – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price was down 4.1% during mid-day trading on Tuesday . The company traded as low as $55.17 and last traded at $56.31. Approximately 2,541,743 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 8,981,263 shares. The stock had previously closed at $58.70.

2x Bitcoin Strategy ETF Stock Down 0.7 %

The firm has a fifty day simple moving average of $58.88 and a 200 day simple moving average of $42.26.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BITX. Graypoint LLC grew its stake in 2x Bitcoin Strategy ETF by 23.1% during 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 period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at about $171,000. Finally, Kingswood Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 29.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after acquiring an additional 66,398 shares in 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.