2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Down 4.7%

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price was down 4.7% during mid-day trading on Thursday . The stock traded as low as $43.63 and last traded at $44.12. Approximately 1,483,597 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 3,817,502 shares. The stock had previously closed at $46.29.

2x Bitcoin Strategy ETF Price Performance

The company’s 50-day simple moving average is $44.54 and its 200-day simple moving average is $33.12.

2x Bitcoin Strategy ETF Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, May 23rd will be given a $0.9677 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. VitalStone Financial LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 142.3% during the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after purchasing an additional 925 shares in the last quarter. Selway Asset Management acquired a new position in shares of 2x Bitcoin Strategy ETF during the 1st quarter valued at about $399,000. Kingswood Wealth Advisors LLC acquired a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at about $470,000. Finally, Graypoint LLC acquired a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at about $572,000.

About 2x Bitcoin Strategy ETF

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.