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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $52.99, but opened at $56.84. 2x Bitcoin Strategy ETF shares last traded at $56.84, with a volume of 1,043,610 shares changing hands.

2x Bitcoin Strategy ETF Stock Performance

The stock’s 50-day moving average is $36.70 and its 200-day moving average is $35.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new stake in 2x Bitcoin Strategy ETF during the 2nd quarter worth approximately $40,000. VitalStone Financial LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after purchasing an additional 2,020 shares during the last quarter. Graypoint LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after buying an additional 2,536 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after buying an additional 30,991 shares during the last quarter.

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.