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

2x Bitcoin Strategy ETF (BATS:BITX)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.64 and last traded at $10.74, with a volume of 11083846 shares trading hands. The stock had previously closed at $11.70.

2x Bitcoin Strategy ETF Stock Performance

The firm’s 50 day moving average is $16.67 and its 200-day moving average is $20.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BITX. Heritage Wealth Advisors acquired a new stake in shares of 2x Bitcoin Strategy ETF during the fourth quarter worth $55,000. Root Financial Partners LLC acquired a new position in 2x Bitcoin Strategy ETF in the first quarter valued at $80,000. 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 worth $339,000 after buying an additional 6,865 shares during the period. Jump Financial LLC purchased a new position in 2x Bitcoin Strategy ETF during the fourth quarter worth about $594,000. Finally, EverSource Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 203.0% in the 4th 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.

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.