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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down before the market opened on Thursday . The stock had previously closed at $39.45, but opened at $34.80. 2x Bitcoin Strategy ETF shares last traded at $35.29, with a volume of 1,322,703 shares.

2x Bitcoin Strategy ETF Stock Performance

The firm has a 50 day moving average price of $46.64 and a 200-day moving average price of $46.34.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in 2x Bitcoin Strategy ETF during the fourth quarter worth about $171,000. Jump Financial LLC grew its holdings 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 valued at $2,011,000 after purchasing an additional 2,862 shares during the period. JBF Capital Inc. bought a new stake in 2x Bitcoin Strategy ETF in the fourth quarter valued at approximately $3,881,000. Finally, Kingswood Wealth Advisors LLC raised its holdings in 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 worth $14,910,000 after purchasing an additional 66,398 shares during the period.

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.