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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $52.62, but opened at $48.03. 2x Bitcoin Strategy ETF shares last traded at $49.25, with a volume of 3,352,882 shares trading hands.

2x Bitcoin Strategy ETF Stock Up 6.0 %

The firm’s fifty day moving average price is $56.40 and its 200-day moving average price is $39.14.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 16th were issued a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in 2x Bitcoin Strategy ETF in the fourth quarter worth $171,000. Graypoint LLC raised its holdings 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 purchasing an additional 2,536 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new stake in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth about $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.