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 Wednesday . The stock had previously closed at $49.87, but opened at $52.31. 2x Bitcoin Strategy ETF shares last traded at $52.37, with a volume of 1,319,181 shares traded.

2x Bitcoin Strategy ETF Trading Down 8.0 %

The firm’s 50-day moving average price is $57.12 and its 200 day moving average price is $43.50.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently declared 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 hedge funds and other institutional investors have recently added to or reduced their stakes in BITX. JBF Capital Inc. purchased a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at about $3,881,000. Jump Financial LLC boosted its stake in 2x Bitcoin Strategy ETF by 8.0% in the fourth quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock valued at $2,011,000 after acquiring an additional 2,862 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 29.9% in the fourth 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at about $171,000. Finally, Graypoint LLC boosted its stake in 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 acquiring 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.