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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITXGet Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $52.18, but opened at $56.61. 2x Bitcoin Strategy ETF shares last traded at $57.43, with a volume of 3,731,393 shares traded.

2x Bitcoin Strategy ETF Stock Performance

The stock has a 50-day simple moving average of $49.25 and a 200 day simple moving average of $37.31.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BITX. VitalStone Financial LLC raised its position in 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after acquiring an additional 2,020 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of 2x Bitcoin Strategy ETF in the 2nd quarter valued at $40,000. Finally, Graypoint LLC boosted its holdings in 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 buying an additional 2,536 shares in the last quarter.

2x Bitcoin Strategy ETF Company Profile

(Get Free Report)

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.

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