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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Friday . The stock had previously closed at $61.69, but opened at $64.25. 2x Bitcoin Strategy ETF shares last traded at $64.50, with a volume of 1,785,111 shares traded.

2x Bitcoin Strategy ETF Price Performance

The company has a 50 day moving average price of $58.41 and a 200 day moving average price of $40.35.

2x Bitcoin Strategy ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were given a $0.5768 dividend. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Large investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 29.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after acquiring an additional 66,398 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at approximately $171,000. Finally, Graypoint LLC increased 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 during the last quarter.

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.