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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $52.91, but opened at $54.74. 2x Bitcoin Strategy ETF shares last traded at $54.56, with a volume of 3,016,984 shares trading hands.

2x Bitcoin Strategy ETF Stock Performance

The company’s 50 day moving average price is $51.65 and its 200-day moving average price is $37.75.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were paid a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BITX. Hollencrest Capital Management purchased a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter worth $40,000. VitalStone Financial LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 128.3% in the 2nd 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 in the last quarter. Finally, Graypoint LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after purchasing an additional 2,536 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.