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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down prior to trading on Monday . The stock had previously closed at $31.56, but opened at $28.41. 2x Bitcoin Strategy ETF shares last traded at $28.27, with a volume of 3,841,043 shares traded.

2x Bitcoin Strategy ETF Stock Performance

The stock has a 50-day moving average of $45.99 and a two-hundred day moving average of $53.30.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Hedge funds have recently bought and sold shares of the company. Silverleafe Capital Partners LLC grew its position in 2x Bitcoin Strategy ETF by 13.3% during the 3rd quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock valued at $626,000 after purchasing an additional 1,331 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of 2x Bitcoin Strategy ETF in the third quarter worth approximately $28,000. Jump Financial LLC grew its holdings 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 valued at $4,169,000 after buying an additional 36,362 shares during the last quarter. Flow Traders U.S. LLC increased its position in shares of 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 valued at $2,019,000 after acquiring an additional 4,735 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in 2x Bitcoin Strategy ETF by 35.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after acquiring an additional 4,521 shares during 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.