2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Down 10.7% – Should You Sell?

by · The Markets Daily

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX – Get Free Report) dropped 10.7% during mid-day trading on Thursday . The company traded as low as $25.05 and last traded at $25.08. Approximately 4,779,021 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 8,745,300 shares. The stock had previously closed at $28.10.

2x Bitcoin Strategy ETF Trading Down 0.8%

The firm has a 50-day moving average of $29.54 and a 200 day moving average of $45.63.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently added to or reduced their stakes in BITX. Kingswood Wealth Advisors LLC increased its stake in 2x Bitcoin Strategy ETF by 16.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 296,454 shares of the company’s stock worth $16,014,000 after buying an additional 41,710 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 35.1% during the second quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock valued at $941,000 after acquiring an additional 4,521 shares in the last quarter. Flow Traders U.S. LLC increased its position in shares of 2x Bitcoin Strategy ETF by 14.5% during the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after acquiring an additional 4,735 shares during the last quarter. Jump Financial LLC increased its position in shares of 2x Bitcoin Strategy ETF by 89.1% during the second quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock worth $4,169,000 after acquiring an additional 36,362 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in shares of 2x Bitcoin Strategy ETF in the third quarter worth about $28,000.

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.

Further Reading