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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Tuesday . The stock had previously closed at $35.48, but opened at $36.52. 2x Bitcoin Strategy ETF shares last traded at $35.71, with a volume of 957,320 shares trading hands.

2x Bitcoin Strategy ETF Stock Up 4.6 %

The company’s fifty day moving average is $46.64 and its 200 day moving average is $46.34.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Large investors have recently made changes to their positions in the stock. JBF Capital Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF during the fourth quarter valued at about $3,881,000. Kingswood Wealth Advisors LLC grew its stake in 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 acquiring an additional 66,398 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $171,000. Finally, Jump Financial LLC lifted its stake in 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after purchasing an additional 2,862 shares in 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.