2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up After Dividend Announcement

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up prior to trading on Tuesday following a dividend announcement from the company. The stock had previously closed at $48.06, but opened at $49.15. 2x Bitcoin Strategy ETF shares last traded at $48.87, with a volume of 1,827,296 shares.

The newly announced dividend which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.9677 per share. The ex-dividend date is Wednesday, May 22nd.

2x Bitcoin Strategy ETF Price Performance

The company has a 50-day moving average of $44.54 and a 200-day moving average of $33.12.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC raised its stake 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 in the last quarter. Graypoint LLC bought a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $572,000. Selway Asset Management bought a new stake in shares of 2x Bitcoin Strategy ETF during the 1st quarter worth approximately $399,000. Finally, VitalStone Financial LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 142.3% during the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after purchasing an additional 925 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.