2x Bitcoin Strategy ETF (NYSEARCA:BITX – Get Free Report) dropped 4.7% during mid-day trading on Friday . The stock traded as low as $30.66 and last traded at $30.96. Approximately 1,885,907 shares were traded during trading, a decline of 78% from the average daily volume of 8,537,266 shares. The stock had previously closed at $32.47.
2x Bitcoin Strategy ETF Trading Down 8.0%
The stock’s fifty day simple moving average is $45.17 and its 200 day simple moving average is $53.02.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new position in shares of 2x Bitcoin Strategy ETF in the third quarter worth approximately $28,000. Parallel Advisors LLC bought a new stake in 2x Bitcoin Strategy ETF during the second quarter valued at about $78,000. EverSource Wealth Advisors LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 8,916.8% in the first quarter. EverSource Wealth Advisors LLC now owns 12,894 shares of the company’s stock worth $457,000 after acquiring an additional 12,751 shares during the period. Silverleafe Capital Partners LLC grew its position in shares of 2x Bitcoin Strategy ETF by 13.3% during the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock worth $626,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Jump Financial LLC raised its stake in 2x Bitcoin Strategy ETF by 5.0% during the 1st quarter. Jump Financial LLC now owns 40,805 shares of the company’s stock valued at $1,448,000 after purchasing an additional 1,953 shares during the period.
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.
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