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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Wednesday . The stock had previously closed at $15.36, but opened at $16.95. 2x Bitcoin Strategy ETF shares last traded at $17.04, with a volume of 8,296,042 shares changing hands.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50 day moving average price of $23.33 and a two-hundred day moving average price of $38.15.

Institutional Trading of 2x Bitcoin Strategy ETF

Several large investors have recently bought and sold shares of BITX. Highline Wealth Partners LLC purchased a new stake in shares of 2x Bitcoin Strategy ETF in the third quarter valued at approximately $28,000. Heritage Wealth Advisors purchased a new stake in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at approximately $55,000. Captrust Financial Advisors raised its position in 2x Bitcoin Strategy ETF by 128.4% in the fourth 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 during the period. Jump Financial LLC acquired a new position in 2x Bitcoin Strategy ETF during the 4th quarter worth about $594,000. Finally, Silverleafe Capital Partners LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 13.3% during the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock worth $626,000 after purchasing an additional 1,331 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.