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 Tuesday . The stock had previously closed at $51.21, but opened at $54.70. 2x Bitcoin Strategy ETF shares last traded at $54.58, with a volume of 1,702,211 shares trading hands.

2x Bitcoin Strategy ETF Trading Up 6.7 %

The stock’s fifty day simple moving average is $56.78 and its two-hundred day simple moving average is $39.27.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were paid a dividend of $0.5768 per share. The ex-dividend date was Monday, December 16th.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of BITX. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $171,000. Graypoint LLC grew its position in shares of 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth about $40,000.

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.