2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Down 8.7% – Here’s What Happened

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was down 8.7% during trading on Wednesday . The stock traded as low as $38.51 and last traded at $39.46. Approximately 9,428,925 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 9,055,120 shares. The stock had previously closed at $43.22.

2x Bitcoin Strategy ETF Stock Performance

The business’s 50-day simple moving average is $55.88 and its two-hundred day simple moving average is $44.21.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 16th were issued a dividend of $0.5768 per share. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Trading of 2x Bitcoin Strategy ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 29.9% in 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 during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $171,000. Graypoint LLC lifted its position in 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after buying an additional 2,536 shares in the last quarter. JBF Capital Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at about $3,881,000. Finally, Jump Financial LLC increased its position in 2x Bitcoin Strategy ETF by 8.0% during the fourth quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 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.