2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – Still a Buy?

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

2x Bitcoin Strategy ETF Price Performance

The business’s 50-day simple moving average is $24.56 and its 200-day simple moving average is $39.86.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Large investors have recently made changes to their positions in the company. Jump Financial LLC raised its position in 2x Bitcoin Strategy ETF by 89.1% during the second quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after acquiring an additional 36,362 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 35.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after purchasing an additional 4,521 shares during the last quarter. Flow Traders U.S. LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 14.5% during the 2nd quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock valued at $2,019,000 after purchasing an additional 4,735 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 3rd quarter valued at $28,000. Finally, Silverleafe Capital Partners LLC boosted its holdings in 2x Bitcoin Strategy ETF by 13.3% in the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock worth $626,000 after purchasing an additional 1,331 shares in 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.