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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Tuesday . The stock had previously closed at $58.16, but opened at $60.29. 2x Bitcoin Strategy ETF shares last traded at $60.29, with a volume of 1,171,240 shares trading hands.

2x Bitcoin Strategy ETF Stock Down 1.0 %

The company’s 50 day moving average price is $42.34 and its two-hundred day moving average price is $36.15.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently bought and sold shares of BITX. Graypoint LLC boosted its position in 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after buying an additional 2,536 shares during the period. Hollencrest Capital Management purchased a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter valued at approximately $40,000. Finally, VitalStone Financial LLC grew 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 worth $114,000 after purchasing an additional 2,020 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.