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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $61.69, but opened at $64.25. 2x Bitcoin Strategy ETF shares last traded at $64.50, with a volume of 1,785,111 shares trading hands.

2x Bitcoin Strategy ETF Trading Up 3.0 %

The stock has a fifty day simple moving average of $58.81 and a 200-day simple moving average of $40.83.

2x Bitcoin Strategy ETF Cuts Dividend

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

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Hedge funds have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 29.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after purchasing an additional 66,398 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at $171,000. Finally, Graypoint LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 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.