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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $54.85, but opened at $53.44. 2x Bitcoin Strategy ETF shares last traded at $53.41, with a volume of 2,893,897 shares changing hands.

2x Bitcoin Strategy ETF Stock Performance

The business’s 50-day simple moving average is $32.68 and its 200 day simple moving average is $34.21.

Institutional Trading of 2x Bitcoin Strategy ETF

Several institutional investors have recently modified their holdings of BITX. Hollencrest Capital Management acquired a new position in 2x Bitcoin Strategy ETF in the second quarter worth approximately $40,000. VitalStone Financial LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 128.3% during the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after acquiring an additional 2,020 shares in the last quarter. Graypoint LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after purchasing an additional 30,991 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.