2x Bitcoin Strategy ETF (BATS:BITX) Stock Price Down 5.9% – What’s Next?

2x Bitcoin Strategy ETF (BATS:BITX)’s share price fell 5.9% during trading on Friday . The company traded as low as $19.23 and last traded at $19.52. 6,489,320 shares changed hands during trading, a decline of 45% from the average session volume of 11,775,854 shares. The stock had previously closed at $20.75.

2x Bitcoin Strategy ETF Stock Performance

The business has a 50 day moving average of $17.36 and a 200 day moving average of $24.95.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $594,000. Captrust Financial Advisors boosted its stake in 2x Bitcoin Strategy ETF by 128.4% during the fourth quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock valued at $339,000 after buying an additional 6,865 shares during the last quarter. Heritage Wealth Advisors bought a new position in 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $55,000. Root Financial Partners LLC bought a new position in 2x Bitcoin Strategy ETF during the first quarter valued at approximately $80,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of 2x Bitcoin Strategy ETF by 203.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock valued at $1,467,000 after purchasing an additional 35,432 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.