2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Up 13.6% – Here’s What Happened

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price traded up 13.6% during trading on Wednesday . The company traded as high as $37.63 and last traded at $36.88. 6,180,852 shares traded hands during trading, an increase of 10% from the average session volume of 5,610,106 shares. The stock had previously closed at $32.46.

2x Bitcoin Strategy ETF Trading Up 19.5 %

The firm’s fifty day moving average is $28.46 and its 200-day moving average is $33.67.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new position in 2x Bitcoin Strategy ETF in the 2nd quarter valued at about $40,000. VitalStone Financial LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 142.3% during the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after buying an additional 925 shares during the period. Graypoint LLC increased 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 worth $386,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in 2x Bitcoin Strategy ETF by 22.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after purchasing an additional 30,991 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.