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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up prior to trading on Monday . The stock had previously closed at $29.18, but opened at $31.17. 2x Bitcoin Strategy ETF shares last traded at $31.48, with a volume of 3,247,743 shares changing hands.

2x Bitcoin Strategy ETF Stock Performance

The firm has a 50 day moving average of $34.09 and a two-hundred day moving average of $49.11.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of institutional investors have recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of 2x Bitcoin Strategy ETF during the 3rd quarter worth about $28,000. Parallel Advisors LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF during the second quarter worth $78,000. Silverleafe Capital Partners LLC increased its position in 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 worth $626,000 after buying an additional 1,331 shares during the period. EverSource Wealth Advisors LLC boosted its position in 2x Bitcoin Strategy ETF by 35.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after acquiring an additional 4,521 shares during the period. Finally, Flow Traders U.S. LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 14.5% in the 2nd 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 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.