2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Down 8.7% – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price was down 8.7% during trading on Wednesday . The company traded as low as $38.51 and last traded at $39.46. Approximately 9,428,925 shares traded hands during trading, an increase of 4% from the average daily volume of 9,055,120 shares. The stock had previously closed at $43.22.

2x Bitcoin Strategy ETF Stock Down 8.6 %

The company’s 50 day simple moving average is $55.88 and its two-hundred day simple moving average is $44.21.

2x Bitcoin Strategy ETF Cuts Dividend

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

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently made changes to their positions in the company. Graypoint LLC raised its stake in 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 purchasing an additional 2,536 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in 2x Bitcoin Strategy ETF during the 4th quarter worth about $171,000. Kingswood Wealth Advisors LLC lifted its holdings 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 buying an additional 66,398 shares in the last quarter. Jump Financial LLC increased its position in shares of 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock valued at $2,011,000 after purchasing an additional 2,862 shares during the last quarter. Finally, JBF Capital Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth about $3,881,000.

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.