2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up to $36.01

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $36.01, but opened at $37.35. 2x Bitcoin Strategy ETF shares last traded at $36.86, with a volume of 4,452,998 shares traded.

2x Bitcoin Strategy ETF Price Performance

The firm has a 50-day moving average of $38.82 and a two-hundred day moving average of $38.18.

2x Bitcoin Strategy ETF Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BITX. Kingswood Wealth Advisors LLC purchased a new position in 2x Bitcoin Strategy ETF in the fourth quarter worth approximately $470,000. Graypoint LLC purchased a new position in 2x Bitcoin Strategy ETF in the fourth quarter worth approximately $572,000. Selway Asset Management purchased a new position in 2x Bitcoin Strategy ETF in the first quarter worth approximately $399,000. Finally, VitalStone Financial LLC grew its position 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 worth $84,000 after acquiring 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.