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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price gapped up before the market opened on Friday . The stock had previously closed at $53.60, but opened at $56.66. 2x Bitcoin Strategy ETF shares last traded at $54.71, with a volume of 4,244,220 shares traded.

2x Bitcoin Strategy ETF Price Performance

The company has a 50 day moving average of $58.76 and a 200 day moving average of $42.34.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BITX. Thurston Springer Miller Herd & Titak Inc. bought a new position in 2x Bitcoin Strategy ETF in the 4th quarter valued at $171,000. Graypoint LLC grew 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 valued at $386,000 after buying an additional 2,536 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 29.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after acquiring an additional 66,398 shares during the last quarter.

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.