2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down to $42.28

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down before the market opened on Friday . The stock had previously closed at $42.28, but opened at $41.05. 2x Bitcoin Strategy ETF shares last traded at $41.96, with a volume of 576,267 shares traded.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50 day moving average price of $45.96 and a two-hundred day moving average price of $29.89.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BITX. Kingswood Wealth Advisors LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock worth $7,199,000 after buying an additional 114,524 shares during the period. Graypoint LLC purchased a new position in 2x Bitcoin Strategy ETF in the 4th quarter valued at $572,000. Finally, Selway Asset Management acquired a new stake in 2x Bitcoin Strategy ETF during the 1st quarter worth $399,000.

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.