2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $32.76, but opened at $32.04. 2x Bitcoin Strategy ETF shares last traded at $31.67, with a volume of 1,678,404 shares changing hands.

2x Bitcoin Strategy ETF Trading Down 0.8 %

The business’s fifty day moving average price is $27.64 and its 200-day moving average price is $34.58.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently modified their holdings of BITX. Hollencrest Capital Management purchased a new position in 2x Bitcoin Strategy ETF in the 2nd quarter worth $40,000. VitalStone Financial LLC boosted its holdings in 2x Bitcoin Strategy ETF by 142.3% during the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after acquiring an additional 925 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its position in 2x Bitcoin Strategy ETF by 22.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after acquiring an additional 30,991 shares during 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.