2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up to $31.68

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Monday . The stock had previously closed at $31.68, but opened at $34.77. 2x Bitcoin Strategy ETF shares last traded at $34.53, with a volume of 868,861 shares traded.

2x Bitcoin Strategy ETF Stock Performance

The firm has a 50 day simple moving average of $40.45 and a 200-day simple moving average of $37.25.

2x Bitcoin Strategy ETF Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 23rd were paid a $0.9677 dividend. The ex-dividend date was Wednesday, May 22nd.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of institutional investors have recently modified their holdings of BITX. Kingswood Wealth Advisors LLC boosted its holdings in 2x Bitcoin Strategy ETF by 554.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after purchasing an additional 114,524 shares during the period. Graypoint LLC purchased a new position in 2x Bitcoin Strategy ETF in the fourth quarter valued at $572,000. Selway Asset Management purchased a new position in 2x Bitcoin Strategy ETF in the first quarter valued at $399,000. Finally, VitalStone Financial LLC boosted its holdings in 2x Bitcoin Strategy ETF by 142.3% in the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after purchasing an additional 925 shares during the period.

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.