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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down before the market opened on Thursday . The stock had previously closed at $39.45, but opened at $34.80. 2x Bitcoin Strategy ETF shares last traded at $35.29, with a volume of 1,322,703 shares.

2x Bitcoin Strategy ETF Stock Performance

The company has a fifty day simple moving average of $46.64 and a two-hundred day simple moving average of $46.34.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $171,000. Jump Financial LLC increased its holdings in 2x Bitcoin Strategy ETF by 8.0% during the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after purchasing an additional 2,862 shares in the last quarter. JBF Capital Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at about $3,881,000. Finally, 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.

About 2x Bitcoin Strategy ETF

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.