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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares gapped up prior to trading on Monday . The stock had previously closed at $39.37, but opened at $47.56. 2x Bitcoin Strategy ETF shares last traded at $44.25, with a volume of 4,648,559 shares traded.

2x Bitcoin Strategy ETF Stock Up 14.5 %

The business’s 50 day moving average is $54.74 and its two-hundred day moving average is $44.45.

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 paid a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in 2x Bitcoin Strategy ETF in the fourth quarter worth about $171,000. Graypoint LLC raised its holdings in shares of 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. Jump Financial LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 shares during the last quarter. JBF Capital Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at about $3,881,000. Finally, Kingswood Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 29.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after purchasing an additional 66,398 shares in 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.