2x Bitcoin Strategy ETF (BATS:BITX) Reaches New 1-Year Low – Should You Sell?

2x Bitcoin Strategy ETF (BATS:BITX) shares hit a new 52-week low on Tuesday . The stock traded as low as $10.09 and last traded at $10.11, with a volume of 5485870 shares traded. The stock had previously closed at $10.93.

2x Bitcoin Strategy ETF Stock Performance

The stock’s 50 day moving average price is $16.12 and its 200-day moving average price is $19.66.

Institutional Trading of 2x Bitcoin Strategy ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC raised its position in shares of 2x Bitcoin Strategy ETF by 1.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after acquiring an additional 2,985 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in 2x Bitcoin Strategy ETF by 203.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock valued at $1,467,000 after purchasing an additional 35,432 shares during the last quarter. Heritage Wealth Advisors purchased a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at about $55,000. Captrust Financial Advisors raised its holdings in 2x Bitcoin Strategy ETF by 128.4% in the fourth quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock worth $339,000 after purchasing an additional 6,865 shares in the last quarter. Finally, Jump Financial LLC bought a new position in 2x Bitcoin Strategy ETF in the fourth quarter worth about $594,000.

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.