2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down to $41.16

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $41.16, but opened at $38.80. 2x Bitcoin Strategy ETF shares last traded at $38.89, with a volume of 953,976 shares changing hands.

2x Bitcoin Strategy ETF Stock Down 7.2 %

The company has a 50 day moving average price of $42.07 and a 200-day moving average price of $36.52.

2x Bitcoin Strategy ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, May 24th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.9677 per share. The ex-dividend date was Wednesday, May 22nd.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BITX. Kingswood Wealth Advisors LLC acquired a new stake in 2x Bitcoin Strategy ETF during the 4th quarter valued at approximately $470,000. Graypoint LLC bought a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $572,000. Selway Asset Management bought a new position in shares of 2x Bitcoin Strategy ETF during the 1st quarter worth approximately $399,000. Finally, VitalStone Financial LLC boosted its holdings 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 buying an additional 925 shares in the last quarter.

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.