2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – Time to Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $26.96, but opened at $28.52. 2x Bitcoin Strategy ETF shares last traded at $28.21, with a volume of 2,520,175 shares changing hands.

2x Bitcoin Strategy ETF Price Performance

The business has a 50-day moving average of $38.62 and a 200 day moving average of $50.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in shares of 2x Bitcoin Strategy ETF in the third quarter valued at $28,000. Parallel Advisors LLC bought a new position in 2x Bitcoin Strategy ETF during the second quarter valued at $78,000. Silverleafe Capital Partners LLC grew its stake 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 worth $626,000 after buying an additional 1,331 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 worth $941,000 after buying an additional 4,521 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 5.0% in the 1st quarter. Jump Financial LLC now owns 40,805 shares of the company’s stock worth $1,448,000 after buying an additional 1,953 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.