2x Bitcoin Strategy ETF (BATS:BITX) Trading Down 2.9% – What’s Next?

Shares of 2x Bitcoin Strategy ETF (BATS:BITX) dropped 2.9% on Thursday . The stock traded as low as $18.71 and last traded at $19.12. Approximately 9,933,477 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 12,684,460 shares. The stock had previously closed at $19.70.

2x Bitcoin Strategy ETF Trading Down 2.9%

The business’s 50-day moving average price is $16.11 and its 200-day moving average price is $28.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Silverleafe Capital Partners LLC increased its stake in 2x Bitcoin Strategy ETF by 13.3% in the third 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 period. Kingswood Wealth Advisors LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 1.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after buying an additional 2,985 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 worth $1,467,000 after buying an additional 35,432 shares during the last quarter. Heritage Wealth Advisors acquired a new position in 2x Bitcoin Strategy ETF in the 4th quarter valued at about $55,000. Finally, Captrust Financial Advisors increased its position 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 valued at $339,000 after acquiring an additional 6,865 shares during the period.

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.