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 Monday . The stock had previously closed at $64.18, but opened at $61.66. 2x Bitcoin Strategy ETF shares last traded at $60.49, with a volume of 1,992,768 shares trading hands.

2x Bitcoin Strategy ETF Stock Performance

The stock has a 50 day moving average of $35.50 and a 200-day moving average of $34.82.

Institutional Trading of 2x Bitcoin Strategy ETF

Institutional investors have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC lifted its holdings in 2x Bitcoin Strategy ETF by 22.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after purchasing an additional 30,991 shares in the last quarter. Graypoint LLC raised its position in shares of 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 buying an additional 2,536 shares during the last quarter. VitalStone Financial LLC raised its position in shares of 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after buying an additional 2,020 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in shares of 2x Bitcoin Strategy ETF in the second quarter worth $40,000.

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.