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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $27.67, but opened at $28.73. 2x Bitcoin Strategy ETF shares last traded at $28.32, with a volume of 1,697,577 shares changing hands.

2x Bitcoin Strategy ETF Price Performance

The business has a 50-day moving average of $36.68 and a 200 day moving average of $50.30.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in 2x Bitcoin Strategy ETF in the 3rd quarter valued at about $28,000. Parallel Advisors LLC bought a new position in shares of 2x Bitcoin Strategy ETF in the second quarter valued at approximately $78,000. Silverleafe Capital Partners LLC increased its position in shares of 2x Bitcoin Strategy ETF by 13.3% during the third quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock valued at $626,000 after acquiring an additional 1,331 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in 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 worth $941,000 after acquiring an additional 4,521 shares during the period. Finally, Flow Traders U.S. LLC boosted its position in 2x Bitcoin Strategy ETF by 14.5% in the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after purchasing an additional 4,735 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.