2x Bitcoin Strategy ETF (BATS:BITX) Stock Price Down 5.9% – Here’s Why

2x Bitcoin Strategy ETF (BATS:BITX)’s share price fell 5.9% during trading on Friday . The stock traded as low as $19.23 and last traded at $19.52. 6,489,320 shares changed hands during trading, a decline of 45% from the average session volume of 11,775,854 shares. The stock had previously closed at $20.75.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50 day moving average price of $17.36 and a 200 day moving average price of $24.95.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Heritage Wealth Advisors purchased a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at approximately $55,000. Root Financial Partners LLC purchased a new position in shares of 2x Bitcoin Strategy ETF during the 1st quarter valued at approximately $80,000. Captrust Financial Advisors boosted its stake in shares of 2x Bitcoin Strategy ETF by 128.4% during the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock valued at $339,000 after buying an additional 6,865 shares during the last quarter. Jump Financial LLC purchased a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at approximately $594,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of 2x Bitcoin Strategy ETF by 203.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock valued at $1,467,000 after acquiring an additional 35,432 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.