2x Bitcoin Strategy ETF (BATS:BITX) Hits New 52-Week Low – Time to Sell?

2x Bitcoin Strategy ETF (BATS:BITX)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $10.09 and last traded at $10.11, with a volume of 5485870 shares changing hands. The stock had previously closed at $10.93.

2x Bitcoin Strategy ETF Trading Up 6.8%

The company’s 50-day moving average is $15.79 and its two-hundred day moving average is $19.35.

Institutional Trading of 2x Bitcoin Strategy ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Kingswood Wealth Advisors LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 1.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after purchasing an additional 2,985 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 valued at $1,467,000 after buying an additional 35,432 shares during the last quarter. Heritage Wealth Advisors bought a new stake in 2x Bitcoin Strategy ETF in the 4th quarter worth about $55,000. Captrust Financial Advisors increased its holdings in 2x Bitcoin Strategy ETF by 128.4% in 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 in the last quarter. Finally, Jump Financial LLC purchased a new position in 2x Bitcoin Strategy ETF in the 4th quarter worth about $594,000.

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.