2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down to $37.87

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $37.87, but opened at $34.37. 2x Bitcoin Strategy ETF shares last traded at $34.35, with a volume of 1,429,104 shares traded.

2x Bitcoin Strategy ETF Trading Down 9.4 %

The stock has a fifty day simple moving average of $41.66 and a two-hundred day simple moving average of $36.79.

2x Bitcoin Strategy ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 23rd were issued a $0.9677 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BITX. VitalStone Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 142.3% in the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after buying an additional 925 shares during the period. Selway Asset Management purchased a new position in 2x Bitcoin Strategy ETF in the 1st quarter worth approximately $399,000. Kingswood Wealth Advisors LLC bought a new stake in 2x Bitcoin Strategy ETF in the fourth quarter valued at approximately $470,000. Finally, Graypoint LLC purchased a new stake in shares of 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $572,000.

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.