2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $51.21, but opened at $54.70. 2x Bitcoin Strategy ETF shares last traded at $54.58, with a volume of 1,702,211 shares trading hands.

2x Bitcoin Strategy ETF Trading Up 6.7 %

The company has a 50-day moving average price of $56.78 and a 200-day moving average price of $39.27.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were paid a $0.5768 dividend. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in shares of 2x Bitcoin Strategy ETF during the 2nd quarter valued at $40,000. Graypoint LLC lifted its stake in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in 2x Bitcoin Strategy ETF during the fourth quarter worth approximately $171,000.

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.