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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Wednesday . The stock had previously closed at $52.99, but opened at $56.84. 2x Bitcoin Strategy ETF shares last traded at $56.84, with a volume of 1,043,610 shares.

2x Bitcoin Strategy ETF Stock Up 10.4 %

The business has a 50 day simple moving average of $36.70 and a 200-day simple moving average of $35.07.

Institutional Trading of 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Graypoint LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the last quarter. Hollencrest Capital Management acquired a new stake in 2x Bitcoin Strategy ETF in the 2nd quarter valued at $40,000. VitalStone Financial LLC increased its stake in 2x Bitcoin Strategy ETF by 128.3% in the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after buying an additional 2,020 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 22.9% during the 2nd 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.

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.