2x Bitcoin Strategy ETF (BATS:BITX) Hits New 52-Week Low – Here’s What Happened

2x Bitcoin Strategy ETF (BATS:BITX)’s stock price reached a new 52-week low on Wednesday . The stock 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 Trading Up 2.6%

The business’s 50-day moving average is $16.41 and its two-hundred day moving average is $19.94.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently modified their holdings of BITX. EverSource Wealth Advisors LLC lifted its position in 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 worth $1,467,000 after acquiring an additional 35,432 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 1.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock valued at $6,500,000 after purchasing an additional 2,985 shares during the period. Jump Financial LLC acquired a new position in shares of 2x Bitcoin Strategy ETF during the fourth quarter worth $594,000. Root Financial Partners LLC purchased a new position in shares of 2x Bitcoin Strategy ETF in the first quarter valued at $80,000. Finally, Captrust Financial Advisors grew its holdings in 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 purchasing an additional 6,865 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.