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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up prior to trading on Wednesday . The stock had previously closed at $15.36, but opened at $16.95. 2x Bitcoin Strategy ETF shares last traded at $17.04, with a volume of 8,296,042 shares traded.

2x Bitcoin Strategy ETF Price Performance

The business’s 50-day moving average is $22.91 and its two-hundred day moving average is $37.85.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently modified their holdings of BITX. Kingswood Wealth Advisors LLC raised its holdings in 2x Bitcoin Strategy ETF by 1.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after acquiring an additional 2,985 shares in the last quarter. Jump Financial LLC grew its stake in 2x Bitcoin Strategy ETF by 89.1% in the second quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after purchasing an additional 36,362 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 worth $1,467,000 after purchasing an additional 35,432 shares during the last quarter. Flow Traders U.S. LLC raised its stake in shares of 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 worth $2,019,000 after purchasing an additional 4,735 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of 2x Bitcoin Strategy ETF by 128.4% during the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock worth $339,000 after purchasing an additional 6,865 shares in 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.