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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down prior to trading on Thursday . The stock had previously closed at $59.12, but opened at $54.89. 2x Bitcoin Strategy ETF shares last traded at $54.38, with a volume of 2,864,998 shares trading hands.

2x Bitcoin Strategy ETF Trading Down 2.7 %

The firm’s 50 day simple moving average is $50.82 and its 200-day simple moving average is $37.68.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were paid a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Institutional Trading of 2x Bitcoin Strategy ETF

Several large investors have recently bought and sold shares of BITX. Graypoint LLC boosted its stake in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after buying an additional 2,536 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth $40,000. Finally, VitalStone Financial LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 128.3% during the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after acquiring an additional 2,020 shares during the period.

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.