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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $30.49, but opened at $32.28. 2x Bitcoin Strategy ETF shares last traded at $32.90, with a volume of 1,291,690 shares trading hands.

2x Bitcoin Strategy ETF Stock Up 7.5 %

The stock’s 50 day moving average price is $28.41 and its two-hundred day moving average price is $33.74.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of institutional investors and hedge funds have recently bought and sold shares of BITX. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth approximately $40,000. VitalStone Financial LLC raised its stake 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 purchasing an additional 925 shares in the last quarter. Graypoint LLC lifted its position in 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after purchasing an additional 2,536 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 22.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after buying an additional 30,991 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.