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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $38.57, but opened at $36.89. 2x Bitcoin Strategy ETF shares last traded at $37.22, with a volume of 1,124,874 shares.

2x Bitcoin Strategy ETF Trading Down 5.4 %

The stock has a fifty day moving average of $50.82 and a 200 day moving average of $45.38.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BITX. Thurston Springer Miller Herd & Titak Inc. acquired a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at approximately $171,000. Jump Financial LLC lifted its holdings in 2x Bitcoin Strategy ETF by 8.0% in the fourth quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock valued at $2,011,000 after acquiring an additional 2,862 shares during the period. JBF Capital Inc. acquired a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at approximately $3,881,000. Finally, Kingswood Wealth Advisors LLC lifted its holdings in 2x Bitcoin Strategy ETF by 29.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after acquiring an additional 66,398 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.