2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Down – Here’s What Happened

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $31.03, but opened at $29.14. 2x Bitcoin Strategy ETF shares last traded at $28.77, with a volume of 1,444,981 shares trading hands.

2x Bitcoin Strategy ETF Price Performance

The firm’s 50-day simple moving average is $48.03 and its two-hundred day simple moving average is $53.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Silverleafe Capital Partners LLC raised its position in shares of 2x Bitcoin Strategy ETF by 13.3% during the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock worth $626,000 after acquiring an additional 1,331 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in 2x Bitcoin Strategy ETF in the third quarter worth about $28,000. Jump Financial LLC raised its holdings in 2x Bitcoin Strategy ETF by 89.1% during the 2nd quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock worth $4,169,000 after purchasing an additional 36,362 shares during the last quarter. Flow Traders U.S. LLC raised its holdings in 2x Bitcoin Strategy ETF by 14.5% during the 2nd quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after purchasing an additional 4,735 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 35.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock valued at $941,000 after purchasing an additional 4,521 shares during the period.

About 2x Bitcoin Strategy ETF

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.