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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up prior to trading on Monday . The stock had previously closed at $30.79, but opened at $32.90. 2x Bitcoin Strategy ETF shares last traded at $33.19, with a volume of 2,313,160 shares changing hands.

2x Bitcoin Strategy ETF Stock Performance

The business has a 50 day moving average of $27.90 and a 200-day moving average of $34.16.

Institutional Trading of 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently bought and sold shares of BITX. Hollencrest Capital Management purchased a new position in 2x Bitcoin Strategy ETF during the 2nd quarter worth $40,000. VitalStone Financial LLC increased its stake in 2x Bitcoin Strategy ETF by 142.3% in the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after purchasing an additional 925 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in 2x Bitcoin Strategy ETF by 22.9% during the second 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 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.