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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITXGet Free Report) gapped up prior to trading on Monday . The stock had previously closed at $29.18, but opened at $31.17. 2x Bitcoin Strategy ETF shares last traded at $31.48, with a volume of 3,247,743 shares.

2x Bitcoin Strategy ETF Stock Down 3.4%

The business’s 50 day moving average price is $33.21 and its two-hundred day moving average price is $48.84.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BITX. Kingswood Wealth Advisors LLC boosted its position in 2x Bitcoin Strategy ETF by 16.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 296,454 shares of the company’s stock worth $16,014,000 after buying an additional 41,710 shares during the period. Jump Financial LLC increased its position in 2x Bitcoin Strategy ETF by 89.1% in the 2nd 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 during the period. Flow Traders U.S. LLC raised its stake in shares of 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 valued at $2,019,000 after acquiring an additional 4,735 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 35.1% during the second quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock valued at $941,000 after acquiring an additional 4,521 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new position in shares of 2x Bitcoin Strategy ETF during the second quarter worth $78,000.

2x Bitcoin Strategy ETF Company Profile

(Get Free Report)

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.

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