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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Friday . The stock had previously closed at $13.87, but opened at $15.35. 2x Bitcoin Strategy ETF shares last traded at $15.66, with a volume of 6,232,132 shares changing hands.

2x Bitcoin Strategy ETF Trading Up 19.3%

The company’s fifty day moving average price is $28.28 and its 200-day moving average price is $43.89.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 89.1% during the second quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after acquiring an additional 36,362 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in 2x Bitcoin Strategy ETF by 203.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock valued at $1,467,000 after purchasing an additional 35,432 shares during the last quarter. Flow Traders U.S. LLC increased its stake in 2x Bitcoin Strategy ETF by 14.5% during the 2nd quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock valued at $2,019,000 after purchasing an additional 4,735 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in 2x Bitcoin Strategy ETF by 1.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock valued at $6,500,000 after purchasing an additional 2,985 shares in the last quarter. Finally, Silverleafe Capital Partners LLC raised its holdings in 2x Bitcoin Strategy ETF by 13.3% in the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock worth $626,000 after buying an additional 1,331 shares during the last quarter.

2x Bitcoin Strategy ETF Company Profile

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.