2x Bitcoin Strategy ETF (NYSEARCA:BITX) Hits New 12-Month Low – Time to Sell?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $29.04 and last traded at $29.41, with a volume of 20389054 shares changing hands. The stock had previously closed at $31.55.

2x Bitcoin Strategy ETF Stock Down 4.3%

The business’s fifty day moving average is $49.67 and its two-hundred day moving average is $54.26.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Silverleafe Capital Partners LLC boosted its holdings in 2x Bitcoin Strategy ETF by 13.3% in the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock valued at $626,000 after acquiring an additional 1,331 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in 2x Bitcoin Strategy ETF during the 3rd quarter worth about $28,000. Jump Financial LLC lifted its position in 2x Bitcoin Strategy ETF by 89.1% during the 2nd quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after purchasing an additional 36,362 shares during the period. Flow Traders U.S. LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 14.5% in the 2nd quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock valued at $2,019,000 after purchasing an additional 4,735 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of 2x Bitcoin Strategy ETF by 35.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after buying an additional 4,521 shares during the period.

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.