2x Bitcoin Strategy ETF (NYSEARCA:BITX – Get Free Report) dropped 7.6% during mid-day trading on Friday . The company traded as low as $26.90 and last traded at $27.12. Approximately 10,033,423 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 8,416,021 shares. The stock had previously closed at $29.36.
2x Bitcoin Strategy ETF Trading Down 4.3%
The company’s 50 day moving average price is $49.67 and its 200 day moving average price is $54.32.
Hedge Funds Weigh In On 2x Bitcoin Strategy ETF
A number of hedge funds and other institutional investors have recently bought and sold shares of BITX. Kingswood Wealth Advisors LLC raised its position in 2x Bitcoin Strategy ETF by 16.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 296,454 shares of the company’s stock worth $16,014,000 after buying an additional 41,710 shares during the last quarter. DRW Securities LLC acquired a new position in shares of 2x Bitcoin Strategy ETF during the first quarter worth about $4,202,000. Jump Financial LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 89.1% during the second quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock worth $4,169,000 after acquiring an additional 36,362 shares during the period. Flow Traders U.S. LLC raised its holdings in 2x Bitcoin Strategy ETF by 14.5% during the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after purchasing an additional 4,735 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 35.1% in the second quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock valued at $941,000 after purchasing an additional 4,521 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.
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