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 Wednesday . The stock had previously closed at $13.86, but opened at $14.76. 2x Bitcoin Strategy ETF shares last traded at $15.03, with a volume of 4,830,216 shares trading hands.

2x Bitcoin Strategy ETF Price Performance

The company’s fifty day simple moving average is $24.56 and its 200 day simple moving average is $39.86.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Jump Financial LLC purchased a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter worth $594,000. Captrust Financial Advisors grew its position in 2x Bitcoin Strategy ETF by 128.4% during the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock valued at $339,000 after purchasing an additional 6,865 shares during the last quarter. Heritage Wealth Advisors purchased a new stake in 2x Bitcoin Strategy ETF during the 4th quarter valued at about $55,000. EverSource Wealth Advisors LLC raised its holdings in 2x Bitcoin Strategy ETF by 203.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock worth $1,467,000 after buying an additional 35,432 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in 2x Bitcoin Strategy ETF by 1.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after buying an additional 2,985 shares during 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.