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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $13.87, but opened at $15.35. 2x Bitcoin Strategy ETF shares last traded at $15.66, with a volume of 6,232,132 shares.

2x Bitcoin Strategy ETF Trading Up 22.0%

The firm’s 50-day moving average price is $28.58 and its 200-day moving average price is $44.36.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently modified their holdings of BITX. Jump Financial LLC increased its position 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 last quarter. Flow Traders U.S. LLC lifted its position in 2x Bitcoin Strategy ETF by 14.5% in the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after buying an additional 4,735 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 35.1% during the second quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after buying an additional 4,521 shares during the period. Kingswood Wealth Advisors LLC increased its position in 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 acquiring an additional 2,985 shares during the last quarter. Finally, Silverleafe Capital Partners LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 13.3% in the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock valued at $626,000 after acquiring an additional 1,331 shares during the period.

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.