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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $36.29, but opened at $37.78. 2x Bitcoin Strategy ETF shares last traded at $37.83, with a volume of 685,702 shares.

2x Bitcoin Strategy ETF Stock Up 4.8 %

The firm’s 50 day moving average price is $50.82 and its 200-day moving average price is $45.38.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. JBF Capital Inc. purchased a new position in shares of 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $3,881,000. Jump Financial LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% during the fourth quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock valued at $2,011,000 after purchasing an additional 2,862 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 29.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after purchasing an additional 66,398 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $171,000.

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.