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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down prior to trading on Tuesday . The stock had previously closed at $62.06, but opened at $60.22. 2x Bitcoin Strategy ETF shares last traded at $59.75, with a volume of 1,302,804 shares.

2x Bitcoin Strategy ETF Price Performance

The business’s 50 day moving average is $54.06 and its 200 day moving average is $38.34.

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 was Monday, December 16th.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in shares of 2x Bitcoin Strategy ETF in the 2nd quarter valued at $40,000. VitalStone Financial LLC raised its position in shares of 2x Bitcoin Strategy ETF by 128.3% in the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after acquiring an additional 2,020 shares during the period. Finally, Graypoint LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 shares in the last quarter.

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.