2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – Here’s What Happened

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading 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 traded.

2x Bitcoin Strategy ETF Stock Performance

The stock has a 50 day simple moving average of $42.34 and a 200-day simple moving average of $36.15.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently added to or reduced their stakes in BITX. Graypoint LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 shares during the period. VitalStone Financial LLC grew its holdings in 2x Bitcoin Strategy ETF by 128.3% during the 2nd 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 bought a new stake in shares of 2x Bitcoin Strategy ETF during the second quarter valued at approximately $40,000.

2x Bitcoin Strategy ETF Company Profile

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.