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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $59.12, but opened at $54.89. 2x Bitcoin Strategy ETF shares last traded at $54.38, with a volume of 2,864,998 shares changing hands.

2x Bitcoin Strategy ETF Stock Performance

The stock has a 50-day moving average of $49.80 and a 200 day moving average of $37.41.

2x Bitcoin Strategy ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were issued a dividend of $0.5768 per share. The ex-dividend date of this dividend was Monday, December 16th.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Graypoint LLC lifted its stake in shares of 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the last quarter. VitalStone Financial LLC raised its holdings 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 acquired a new position in 2x Bitcoin Strategy ETF in the second quarter valued at 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.