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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up prior to trading on Friday . The stock had previously closed at $61.69, but opened at $64.25. 2x Bitcoin Strategy ETF shares last traded at $64.50, with a volume of 1,785,111 shares changing hands.

2x Bitcoin Strategy ETF Stock Up 5.8 %

The business has a fifty day simple moving average of $58.41 and a 200 day simple moving average of $40.35.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were issued a dividend of $0.5768 per share. The ex-dividend date was Monday, December 16th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kingswood Wealth Advisors LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 29.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after buying an additional 66,398 shares during the last quarter. Graypoint LLC raised its stake in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at approximately $171,000.

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.