2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down to $25.09

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped down prior to trading on Wednesday . The stock had previously closed at $25.09, but opened at $23.71. 2x Bitcoin Strategy ETF shares last traded at $23.61, with a volume of 1,375,293 shares changing hands.

2x Bitcoin Strategy ETF Price Performance

The firm’s fifty day moving average is $30.82 and its 200-day moving average is $39.23.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. VitalStone Financial LLC lifted its stake in 2x Bitcoin Strategy ETF by 142.3% in the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after buying an additional 925 shares during the last quarter. Hollencrest Capital Management purchased a new stake in 2x Bitcoin Strategy ETF in the second quarter valued at approximately $40,000. Selway Asset Management purchased a new stake in shares of 2x Bitcoin Strategy ETF during the first quarter worth approximately $399,000. Finally, Kingswood Wealth Advisors LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 22.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after purchasing an additional 30,991 shares during 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.