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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down prior to trading on Monday . The stock had previously closed at $41.55, but opened at $37.37. 2x Bitcoin Strategy ETF shares last traded at $35.33, with a volume of 2,940,479 shares traded.

2x Bitcoin Strategy ETF Stock Up 10.3 %

The stock has a 50-day simple moving average of $52.76 and a 200 day simple moving average of $45.06.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently bought and sold shares of BITX. Kingswood Wealth Advisors LLC boosted its holdings in 2x Bitcoin Strategy ETF by 29.9% during 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. JBF Capital Inc. acquired a new stake in 2x Bitcoin Strategy ETF in the 4th quarter valued at $3,881,000. Jump Financial LLC grew its position in 2x Bitcoin Strategy ETF by 8.0% in the fourth quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock valued at $2,011,000 after acquiring an additional 2,862 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in 2x Bitcoin Strategy ETF during the fourth quarter worth $171,000.

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.