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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up prior to trading on Tuesday . The stock had previously closed at $33.85, but opened at $36.06. 2x Bitcoin Strategy ETF shares last traded at $35.66, with a volume of 1,630,262 shares trading hands.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50-day moving average of $53.05 and a 200-day moving average of $45.02.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were given a dividend of $0.5768 per share. The ex-dividend date of this dividend was Monday, December 16th.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently added to or reduced their stakes in BITX. Kingswood Wealth Advisors LLC increased its position in 2x Bitcoin Strategy ETF by 29.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after purchasing an additional 66,398 shares during the last quarter. JBF Capital Inc. purchased a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at $3,881,000. Jump Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% during the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter worth $171,000.

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.