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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Monday . The stock had previously closed at $29.18, but opened at $31.17. 2x Bitcoin Strategy ETF shares last traded at $31.48, with a volume of 3,247,743 shares changing hands.

2x Bitcoin Strategy ETF Stock Up 10.4%

The company has a 50 day moving average price of $34.09 and a two-hundred day moving average price of $49.11.

Institutional Trading of 2x Bitcoin Strategy ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Silverleafe Capital Partners LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 13.3% during the third 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 last quarter. Highline Wealth Partners LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF in the third quarter valued at about $28,000. Jump Financial LLC boosted its stake in 2x Bitcoin Strategy ETF by 89.1% during the 2nd quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock worth $4,169,000 after purchasing an additional 36,362 shares during the last quarter. Flow Traders U.S. LLC lifted its position in 2x Bitcoin Strategy ETF by 14.5% during the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after buying an additional 4,735 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 buying an additional 4,521 shares during the period.

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.