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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $51.21, but opened at $54.70. 2x Bitcoin Strategy ETF shares last traded at $54.58, with a volume of 1,702,211 shares trading hands.

2x Bitcoin Strategy ETF Stock Performance

The firm has a 50-day moving average price of $55.96 and a 200-day moving average price of $38.98.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were paid a $0.5768 dividend. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently added to or reduced their stakes in BITX. Graypoint LLC increased its stake in 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $171,000. Finally, Hollencrest Capital Management purchased a new position in 2x Bitcoin Strategy ETF in the 2nd quarter worth approximately $40,000.

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.