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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Wednesday . The stock had previously closed at $49.87, but opened at $52.31. 2x Bitcoin Strategy ETF shares last traded at $52.37, with a volume of 1,319,181 shares trading hands.

2x Bitcoin Strategy ETF Stock Performance

The stock’s 50 day moving average is $57.12 and its 200 day moving average is $43.50.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Trading of 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC increased its holdings in 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 acquiring an additional 66,398 shares during the period. JBF Capital Inc. bought a new stake in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $3,881,000. Jump Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 shares during the last quarter. Graypoint LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after buying an additional 2,536 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter worth $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.