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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $24.98, but opened at $26.41. 2x Bitcoin Strategy ETF shares last traded at $26.47, with a volume of 1,677,024 shares traded.

2x Bitcoin Strategy ETF Price Performance

The company’s 50 day simple moving average is $26.93 and its 200 day simple moving average is $35.56.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently modified their holdings of the business. Kingswood Wealth Advisors LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock worth $7,199,000 after purchasing an additional 114,524 shares during the last quarter. Selway Asset Management purchased a new stake in 2x Bitcoin Strategy ETF in the first quarter valued at $399,000. VitalStone Financial LLC lifted its position in 2x Bitcoin Strategy ETF by 128.3% in 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 during the last quarter. Finally, Hollencrest Capital Management purchased a new stake in 2x Bitcoin Strategy ETF in the second quarter valued at $40,000.

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.