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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $30.49, but opened at $32.28. 2x Bitcoin Strategy ETF shares last traded at $32.90, with a volume of 1,291,690 shares trading hands.

2x Bitcoin Strategy ETF Price Performance

The company has a 50-day moving average of $28.72 and a 200-day moving average of $33.71.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently added to or reduced their stakes in the stock. VitalStone Financial LLC raised its position in 2x Bitcoin Strategy ETF by 142.3% in the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after buying an additional 925 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter valued at approximately $40,000. Graypoint LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 22.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after purchasing an additional 30,991 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.