2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – Time to Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $27.67, but opened at $28.73. 2x Bitcoin Strategy ETF shares last traded at $28.32, with a volume of 1,697,577 shares traded.

2x Bitcoin Strategy ETF Price Performance

The firm’s 50 day moving average price is $36.68 and its two-hundred day moving average price is $50.30.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kingswood Wealth Advisors LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 16.4% during the second quarter. Kingswood Wealth Advisors LLC now owns 296,454 shares of the company’s stock worth $16,014,000 after acquiring an additional 41,710 shares in the last quarter. DRW Securities LLC bought a new stake in shares of 2x Bitcoin Strategy ETF during the 1st quarter valued at $4,202,000. Jump Financial LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 89.1% during the 2nd quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after purchasing an additional 36,362 shares during the period. Flow Traders U.S. LLC lifted its holdings in 2x Bitcoin Strategy ETF by 14.5% during the 2nd quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after purchasing an additional 4,735 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 35.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after purchasing an additional 4,521 shares during the period.

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.