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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down before the market opened on Tuesday . The stock had previously closed at $49.36, but opened at $44.09. 2x Bitcoin Strategy ETF shares last traded at $42.40, with a volume of 3,827,169 shares traded.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50 day moving average of $56.43 and a 200-day moving average of $44.11.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 17th. Shareholders 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.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of hedge funds have recently modified their holdings of the stock. Kingswood Wealth Advisors LLC lifted its holdings in shares of 2x Bitcoin Strategy ETF by 29.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after purchasing an additional 66,398 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in 2x Bitcoin Strategy ETF in the 4th quarter worth about $171,000. Graypoint LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after buying an additional 2,536 shares in the last quarter. JBF Capital Inc. acquired a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth $3,881,000. Finally, Jump Financial LLC increased its position in 2x Bitcoin Strategy ETF by 8.0% during the fourth quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 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.