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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $49.87, but opened at $52.31. 2x Bitcoin Strategy ETF shares last traded at $52.37, with a volume of 1,319,181 shares trading hands.

2x Bitcoin Strategy ETF Price Performance

The business has a 50 day moving average price of $57.69 and a 200-day moving average price of $43.23.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Trading of 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its stake in shares of 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 worth $14,910,000 after buying an additional 66,398 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter worth approximately $171,000. Graypoint LLC boosted its stake in shares of 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 buying an additional 2,536 shares during the last quarter. JBF Capital Inc. purchased a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter worth approximately $3,881,000. Finally, Jump Financial LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 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.