2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – Time to Sell?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $70.55, but opened at $67.44. 2x Bitcoin Strategy ETF shares last traded at $66.73, with a volume of 2,977,182 shares traded.

2x Bitcoin Strategy ETF Price Performance

The firm’s 50 day simple moving average is $48.24 and its 200-day simple moving average is $37.33.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF during the second quarter worth approximately $40,000. Graypoint LLC boosted 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 period. Finally, VitalStone Financial LLC grew its holdings in 2x Bitcoin Strategy ETF by 128.3% in the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after buying an additional 2,020 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.