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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $36.29, but opened at $37.78. 2x Bitcoin Strategy ETF shares last traded at $37.83, with a volume of 685,702 shares.

2x Bitcoin Strategy ETF Trading Down 3.4 %

The business has a 50-day moving average price of $50.29 and a two-hundred day moving average price of $45.29.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JBF Capital Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $3,881,000. Jump Financial LLC raised its position in shares of 2x Bitcoin Strategy ETF by 8.0% during the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after purchasing an additional 2,862 shares during the period. Kingswood Wealth Advisors LLC increased its position in 2x Bitcoin Strategy ETF by 29.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after acquiring an additional 66,398 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in 2x Bitcoin Strategy ETF in the 4th quarter valued at approximately $171,000.

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.