2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Down 4.8% – Should You Sell?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price fell 4.8% during trading on Monday . The stock traded as low as $30.33 and last traded at $30.74. 5,832,482 shares were traded during trading, an increase of 4% from the average session volume of 5,593,649 shares. The stock had previously closed at $32.28.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50-day moving average of $28.42 and a two-hundred day moving average of $33.82.

Institutional Trading of 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter valued at approximately $40,000. VitalStone Financial LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 142.3% in the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after acquiring an additional 925 shares in the last quarter. Graypoint LLC increased its position in shares of 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after buying an additional 2,536 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after purchasing an additional 30,991 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.