2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $32.65, but opened at $29.43. 2x Bitcoin Strategy ETF shares last traded at $29.19, with a volume of 2,766,708 shares.

2x Bitcoin Strategy ETF Price Performance

The company’s fifty day moving average is $30.84 and its two-hundred day moving average is $47.43.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Highline Wealth Partners LLC purchased a new position in 2x Bitcoin Strategy ETF during the 3rd quarter valued at about $28,000. Silverleafe Capital Partners LLC lifted its stake in 2x Bitcoin Strategy ETF by 13.3% in the 3rd quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock valued at $626,000 after buying an additional 1,331 shares in the last quarter. Parallel Advisors LLC acquired a new stake in 2x Bitcoin Strategy ETF during the 2nd quarter valued at $78,000. EverSource Wealth Advisors LLC grew its holdings in 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 valued at $941,000 after buying an additional 4,521 shares during the last quarter. Finally, Flow Traders U.S. LLC increased its position in 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 buying an additional 4,735 shares in the last quarter.

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.