2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Down 5.5%

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) traded down 5.5% during mid-day trading on Thursday . The stock traded as low as $34.12 and last traded at $34.13. 1,099,937 shares traded hands during trading, a decline of 75% from the average session volume of 4,484,638 shares. The stock had previously closed at $36.12.

2x Bitcoin Strategy ETF Trading Down 3.5 %

The company’s 50-day simple moving average is $38.68 and its 200-day simple moving average is $38.16.

2x Bitcoin Strategy ETF Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 24th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.9677 per share. The ex-dividend date of this dividend was Wednesday, May 22nd.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently bought and sold shares of BITX. VitalStone Financial LLC raised its position in shares of 2x Bitcoin Strategy ETF by 142.3% in the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after buying an additional 925 shares in the last quarter. Selway Asset Management acquired a new position in 2x Bitcoin Strategy ETF during the first quarter valued at approximately $399,000. Kingswood Wealth Advisors LLC acquired a new position in 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $470,000. Finally, Graypoint LLC acquired a new position in 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $572,000.

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.