2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down to $29.07

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down prior to trading on Monday . The stock had previously closed at $29.07, but opened at $27.85. 2x Bitcoin Strategy ETF shares last traded at $26.82, with a volume of 1,606,164 shares.

2x Bitcoin Strategy ETF Price Performance

The business’s 50-day simple moving average is $35.49 and its two-hundred day simple moving average is $38.96.

2x Bitcoin Strategy ETF Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, May 24th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.9677 per share. The ex-dividend date was Wednesday, May 22nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC increased its stake in 2x Bitcoin Strategy ETF by 554.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after purchasing an additional 114,524 shares during the last quarter. Graypoint LLC acquired a new stake in 2x Bitcoin Strategy ETF during the fourth quarter worth about $572,000. Selway Asset Management bought a new position in 2x Bitcoin Strategy ETF in the first quarter worth about $399,000. Finally, VitalStone Financial LLC boosted its stake in 2x Bitcoin Strategy ETF by 128.3% in the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after acquiring an additional 2,020 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.