2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – Should You Sell?

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped down prior to trading on Monday . The stock had previously closed at $15.36, but opened at $14.58. 2x Bitcoin Strategy ETF shares last traded at $14.53, with a volume of 2,183,552 shares traded.

2x Bitcoin Strategy ETF Trading Down 8.7%

The stock’s fifty day moving average is $25.10 and its two-hundred day moving average is $40.53.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of institutional investors have recently modified their holdings of BITX. Jump Financial LLC bought a new stake in 2x Bitcoin Strategy ETF during the fourth quarter worth $594,000. Captrust Financial Advisors lifted its position in shares of 2x Bitcoin Strategy ETF by 128.4% during the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock worth $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 in the fourth quarter valued at about $55,000. EverSource Wealth Advisors LLC raised its stake in 2x Bitcoin Strategy ETF by 203.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock worth $1,467,000 after acquiring an additional 35,432 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its stake in 2x Bitcoin Strategy ETF by 1.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after acquiring an additional 2,985 shares in the last quarter.

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.