2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up to $28.20

2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up prior to trading on Friday . The stock had previously closed at $28.20, but opened at $28.97. 2x Bitcoin Strategy ETF shares last traded at $28.82, with a volume of 577,084 shares changing hands.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50-day moving average of $32.25 and a 200-day moving average of $39.26.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of institutional investors and hedge funds have recently modified their holdings of BITX. Selway Asset Management bought a new stake in shares of 2x Bitcoin Strategy ETF during the 1st quarter valued at about $399,000. Kingswood Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 554.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after acquiring an additional 114,524 shares during the period. VitalStone Financial LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 142.3% during the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after purchasing an additional 925 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new stake in shares of 2x Bitcoin Strategy ETF during 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.