2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Down 3.7%

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price was down 3.7% during mid-day trading on Thursday . The stock traded as low as $23.71 and last traded at $24.19. Approximately 1,169,761 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 5,020,998 shares. The stock had previously closed at $25.13.

2x Bitcoin Strategy ETF Trading Down 9.4 %

The company has a fifty day moving average of $30.47 and a 200 day moving average of $39.02.

Institutional Trading of 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC raised its stake in 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after purchasing an additional 114,524 shares during the period. Selway Asset Management acquired a new position in 2x Bitcoin Strategy ETF in the 1st quarter valued at approximately $399,000. VitalStone Financial LLC increased its stake 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 during the period. Finally, Hollencrest Capital Management purchased a new stake in shares of 2x Bitcoin Strategy ETF during the second quarter worth $40,000.

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.