2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Up 4.8% – What’s Next?

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) were up 4.8% during trading on Tuesday . The stock traded as high as $28.90 and last traded at $28.86. Approximately 3,595,311 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 8,641,047 shares. The stock had previously closed at $27.53.

2x Bitcoin Strategy ETF Stock Performance

The stock has a 50-day simple moving average of $35.84 and a 200-day simple moving average of $49.81.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently made changes to their positions in BITX. Highline Wealth Partners LLC bought a new position in shares of 2x Bitcoin Strategy ETF during the third quarter worth about $28,000. Parallel Advisors LLC purchased a new position in 2x Bitcoin Strategy ETF during the 2nd quarter worth approximately $78,000. Silverleafe Capital Partners LLC lifted its stake in 2x Bitcoin Strategy ETF by 13.3% in the 3rd quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock worth $626,000 after acquiring an additional 1,331 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 35.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after buying an additional 4,521 shares in the last quarter. Finally, Flow Traders U.S. LLC boosted its position in 2x Bitcoin Strategy ETF by 14.5% during the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock valued at $2,019,000 after purchasing an additional 4,735 shares during 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.