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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up prior to trading 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 12.5 %

The stock has a 50 day moving average of $37.37 and a 200-day moving average of $35.24.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of institutional investors have recently modified their holdings of the business. Hollencrest Capital Management bought a new stake in 2x Bitcoin Strategy ETF during the 2nd quarter valued at $40,000. VitalStone Financial LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 128.3% during the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after purchasing an additional 2,020 shares during the period. Graypoint LLC lifted its holdings in 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 22.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after purchasing an additional 30,991 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.