2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – Should You Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $30.79, but opened at $32.90. 2x Bitcoin Strategy ETF shares last traded at $33.19, with a volume of 2,313,160 shares traded.

2x Bitcoin Strategy ETF Stock Performance

The business’s 50 day moving average price is $28.03 and its two-hundred day moving average price is $34.03.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. VitalStone Financial LLC grew its position in shares of 2x Bitcoin Strategy ETF by 142.3% in the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after buying an additional 925 shares during the period. Kingswood Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 22.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after acquiring an additional 30,991 shares during the period. Finally, Hollencrest Capital Management bought a new stake in 2x Bitcoin Strategy ETF during the second 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.