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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up prior to trading on Tuesday . The stock had previously closed at $69.35, but opened at $71.94. 2x Bitcoin Strategy ETF shares last traded at $72.04, with a volume of 2,333,566 shares traded.

2x Bitcoin Strategy ETF Stock Up 2.9 %

The company has a fifty day moving average price of $46.03 and a two-hundred day moving average price of $36.83.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 16th will be issued a $0.5768 dividend. The ex-dividend date is Monday, December 16th.

Institutional Trading of 2x Bitcoin Strategy ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Graypoint LLC boosted its position in shares of 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 purchasing an additional 2,536 shares during the period. VitalStone Financial LLC lifted its stake in 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after buying an additional 2,020 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of 2x Bitcoin Strategy ETF in 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.