2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Down 10.1% – Should You Sell?

by · The Markets Daily

2x Bitcoin Strategy ETF (NYSEARCA:BITX – Get Free Report) fell 10.1% on Monday . The company traded as low as $27.52 and last traded at $27.63. 4,086,830 shares were traded during trading, a decline of 52% from the average session volume of 8,594,516 shares. The stock had previously closed at $30.72.

2x Bitcoin Strategy ETF Stock Performance

The business has a 50-day moving average of $42.09 and a two-hundred day moving average of $51.86.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. DRW Securities LLC acquired a new position in 2x Bitcoin Strategy ETF in the 1st quarter valued at about $4,202,000. Kingswood Wealth Advisors LLC raised its position in shares of 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 valued at $16,014,000 after buying an additional 41,710 shares during the period. Jump Financial LLC lifted its holdings in 2x Bitcoin Strategy ETF by 89.1% in the second quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after acquiring an additional 36,362 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in 2x Bitcoin Strategy ETF by 8,916.8% in the first quarter. EverSource Wealth Advisors LLC now owns 12,894 shares of the company’s stock worth $457,000 after acquiring an additional 12,751 shares during the period. Finally, Flow Traders U.S. LLC grew its position in 2x Bitcoin Strategy ETF by 14.5% in 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 period.

About 2x Bitcoin Strategy ETF

(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.

See Also