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

Shares of 2x Bitcoin Strategy ETF (BATS:BITX) reached a new 52-week low during trading on Wednesday . The company traded as low as $10.64 and last traded at $10.74, with a volume of 11083846 shares. The stock had previously closed at $11.70.

2x Bitcoin Strategy ETF Price Performance

The stock’s fifty day simple moving average is $16.67 and its 200-day simple moving average is $20.25.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Hedge funds have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC boosted its position in 2x Bitcoin Strategy ETF by 1.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after purchasing an additional 2,985 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 2x Bitcoin Strategy ETF by 39.9% in the first quarter. EverSource Wealth Advisors LLC now owns 74,003 shares of the company’s stock valued at $1,091,000 after buying an additional 21,114 shares in the last quarter. Jump Financial LLC acquired a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth $594,000. Captrust Financial Advisors raised its stake in shares of 2x Bitcoin Strategy ETF by 128.4% during the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock worth $339,000 after buying an additional 6,865 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of 2x Bitcoin Strategy ETF in the 1st quarter worth about $80,000.

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.