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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $15.36, but opened at $14.58. 2x Bitcoin Strategy ETF shares last traded at $14.53, with a volume of 2,183,552 shares trading hands.

2x Bitcoin Strategy ETF Stock Performance

The company’s 50-day moving average price is $24.56 and its 200 day moving average price is $39.86.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BITX. Highline Wealth Partners LLC bought a new stake in shares of 2x Bitcoin Strategy ETF during the 3rd quarter valued at $28,000. Heritage Wealth Advisors purchased a new position in 2x Bitcoin Strategy ETF during the fourth quarter valued at $55,000. Captrust Financial Advisors lifted its position in 2x Bitcoin Strategy ETF by 128.4% during the fourth quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock valued at $339,000 after purchasing an additional 6,865 shares in the last quarter. Jump Financial LLC bought a new stake in 2x Bitcoin Strategy ETF during the fourth quarter valued at about $594,000. Finally, Silverleafe Capital Partners LLC increased its position 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 worth $626,000 after buying an additional 1,331 shares in 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.