2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – Time to Sell?

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down before the market opened on Monday . The stock had previously closed at $60.20, but opened at $58.61. 2x Bitcoin Strategy ETF shares last traded at $59.72, with a volume of 2,771,992 shares trading hands.

2x Bitcoin Strategy ETF Stock Down 0.1 %

The business’s 50 day simple moving average is $39.75 and its 200 day simple moving average is $35.71.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new position in shares of 2x Bitcoin Strategy ETF during the 2nd quarter valued at approximately $40,000. VitalStone Financial LLC increased its position in 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after acquiring an additional 2,020 shares during the last quarter. Finally, Graypoint LLC increased its position in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after acquiring an additional 2,536 shares during 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.