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

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up before the market opened on Tuesday . The stock had previously closed at $69.35, but opened at $71.94. 2x Bitcoin Strategy ETF shares last traded at $72.04, with a volume of 2,333,566 shares changing hands.

2x Bitcoin Strategy ETF Stock Down 12.3 %

The business has a fifty day moving average price of $47.61 and a 200 day moving average price of $37.20.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 16th were paid a dividend of $0.5768 per share. The ex-dividend date was Monday, December 16th.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of hedge funds have recently made changes to their positions in BITX. Graypoint LLC boosted its stake in 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after acquiring an additional 2,536 shares during the last quarter. VitalStone Financial LLC lifted its holdings in 2x Bitcoin Strategy ETF by 128.3% during the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after buying an additional 2,020 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth about $40,000.

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.