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 $15.55, but opened at $16.38. 2x Bitcoin Strategy ETF shares last traded at $15.83, with a volume of 4,838,277 shares trading hands.

2x Bitcoin Strategy ETF Stock Up 1.9%

The stock has a 50 day moving average of $21.95 and a two-hundred day moving average of $36.52.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Institutional investors have recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 1.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after purchasing an additional 2,985 shares during the period. Jump Financial LLC lifted its stake in shares of 2x Bitcoin Strategy ETF by 89.1% in the second quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after purchasing an additional 36,362 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in 2x Bitcoin Strategy ETF by 203.0% during 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 in the last quarter. Flow Traders U.S. LLC boosted its holdings in 2x Bitcoin Strategy ETF by 14.5% during the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after buying an additional 4,735 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in 2x Bitcoin Strategy ETF by 128.4% during the fourth quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock worth $339,000 after buying an additional 6,865 shares during the period.

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.