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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $52.18, but opened at $56.61. 2x Bitcoin Strategy ETF shares last traded at $57.43, with a volume of 3,731,393 shares.

2x Bitcoin Strategy ETF Price Performance

The company’s 50-day moving average is $49.80 and its 200-day moving average is $37.41.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were issued a dividend of $0.5768 per share. The ex-dividend date was Monday, December 16th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BITX. Graypoint LLC raised its position in shares of 2x Bitcoin Strategy ETF by 23.1% during the 3rd 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. VitalStone Financial LLC lifted its stake 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 buying an additional 2,020 shares during the period. Finally, Hollencrest Capital Management acquired a new position in shares of 2x Bitcoin Strategy ETF during the 2nd quarter worth about $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.