2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Down 4.8%

2x Bitcoin Strategy ETF (NYSEARCA:BITX) dropped 4.8% during mid-day trading on Wednesday . The stock traded as low as $25.61 and last traded at $25.62. Approximately 6,112,305 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 5,222,383 shares. The stock had previously closed at $26.92.

2x Bitcoin Strategy ETF Stock Down 5.1 %

The firm’s 50-day simple moving average is $28.32 and its 200-day simple moving average is $36.68.

Institutional Trading of 2x Bitcoin Strategy ETF

Several hedge funds and other institutional investors have recently bought and sold shares of BITX. Hollencrest Capital Management acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 2nd quarter valued at about $40,000. VitalStone Financial LLC boosted its position in shares of 2x Bitcoin Strategy ETF by 128.3% during the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after acquiring an additional 2,020 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position 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 acquiring an additional 30,991 shares in the last quarter. Finally, Selway Asset Management acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 1st quarter valued at about $399,000.

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.