2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Down 1% – Time to Sell?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares traded down 1% during trading on Tuesday . The stock traded as low as $53.28 and last traded at $53.44. 5,788,046 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 7,855,412 shares. The stock had previously closed at $53.97.

2x Bitcoin Strategy ETF Stock Down 1.0%

The company’s fifty day moving average is $58.89 and its 200 day moving average is $51.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BITX. Silverleafe Capital Partners LLC bought a new position in 2x Bitcoin Strategy ETF in the 1st quarter valued at $355,000. EverSource Wealth Advisors LLC raised its position in 2x Bitcoin Strategy ETF by 8,916.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 12,894 shares of the company’s stock worth $457,000 after purchasing an additional 12,751 shares during the period. Jump Financial LLC raised its position in 2x Bitcoin Strategy ETF by 5.0% in the 1st quarter. Jump Financial LLC now owns 40,805 shares of the company’s stock worth $1,448,000 after purchasing an additional 1,953 shares during the period. DRW Securities LLC purchased a new position in 2x Bitcoin Strategy ETF in the 1st quarter worth $4,202,000. Finally, Parallel Advisors LLC purchased a new position in shares of 2x Bitcoin Strategy ETF in the second quarter valued at about $78,000.

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.