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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped up prior to trading 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 Stock Performance

The stock’s 50-day moving average price is $28.58 and its 200 day moving average price is $44.36.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently bought and sold shares of BITX. Highline Wealth Partners LLC purchased a new position in shares of 2x Bitcoin Strategy ETF in the 3rd quarter valued at approximately $28,000. Silverleafe Capital Partners LLC lifted its holdings in shares of 2x Bitcoin Strategy ETF by 13.3% in the 3rd quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock valued at $626,000 after buying an additional 1,331 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of 2x Bitcoin Strategy ETF by 35.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock valued at $941,000 after purchasing an additional 4,521 shares during the period. Flow Traders U.S. LLC grew its position 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 valued at $2,019,000 after acquiring an additional 4,735 shares during the period. Finally, Jump Financial LLC increased its position in shares of 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 buying an additional 36,362 shares in 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.