2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up to $24.65

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $24.65, but opened at $25.82. 2x Bitcoin Strategy ETF shares last traded at $25.48, with a volume of 1,122,006 shares trading hands.

2x Bitcoin Strategy ETF Price Performance

The company’s 50-day moving average is $29.48 and its two-hundred day moving average is $38.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BITX. Hollencrest Capital Management bought a new stake in 2x Bitcoin Strategy ETF in the 2nd quarter valued at about $40,000. VitalStone Financial LLC boosted its position in 2x Bitcoin Strategy ETF by 142.3% in the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after purchasing an additional 925 shares during the last quarter. Selway Asset Management bought a new position in 2x Bitcoin Strategy ETF during the first quarter worth about $399,000. Finally, Kingswood Wealth Advisors LLC grew its holdings in 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after buying an additional 114,524 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.