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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped up prior to trading on Friday . The stock had previously closed at $49.72, but opened at $51.86. 2x Bitcoin Strategy ETF shares last traded at $52.16, with a volume of 1,673,447 shares changing hands.

2x Bitcoin Strategy ETF Price Performance

The stock has a 50-day moving average price of $45.92 and a 200 day moving average price of $50.24.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently bought and sold shares of the stock. DRW Securities LLC purchased a new position in 2x Bitcoin Strategy ETF during the first quarter worth $4,202,000. Jump Financial LLC boosted its holdings in shares of 2x Bitcoin Strategy ETF by 5.0% during the first quarter. Jump Financial LLC now owns 40,805 shares of the company’s stock worth $1,448,000 after purchasing an additional 1,953 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 2x Bitcoin Strategy ETF by 8,916.8% during the first quarter. EverSource Wealth Advisors LLC now owns 12,894 shares of the company’s stock worth $457,000 after purchasing an additional 12,751 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF during the first quarter worth $355,000. Finally, JBF Capital Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF during the fourth quarter worth $3,881,000.

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.