2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Down 4.2%

Posted by Tyrone Williams on Jul 2nd, 2024

2x Bitcoin Strategy ETF (NYSEARCA:BITX – Get Free Report)’s stock price dropped 4.2% during trading on Tuesday . The stock traded as low as $33.57 and last traded at $33.61. Approximately 1,734,380 shares were traded during trading, a decline of 58% from the average daily volume of 4,160,520 shares. The stock had previously closed at $35.09.

2x Bitcoin Strategy ETF Stock Performance

The firm’s 50-day moving average price is $40.67 and its 200 day moving average price is $37.18.

2x Bitcoin Strategy ETF Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 23rd were paid a dividend of $0.9677 per share. The ex-dividend date was Wednesday, May 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BITX. Kingswood Wealth Advisors LLC lifted its stake in 2x Bitcoin Strategy ETF by 554.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after buying an additional 114,524 shares in the last quarter. Graypoint LLC bought a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at approximately $572,000. Selway Asset Management bought a new position in 2x Bitcoin Strategy ETF in the first quarter valued at approximately $399,000. Finally, VitalStone Financial LLC lifted its stake in 2x Bitcoin Strategy ETF by 142.3% in the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after buying an additional 925 shares in the last quarter.

2x Bitcoin Strategy ETF Company Profile

(Get Free Report)

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.