2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Up 2.1% – Here’s What Happened

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price shot up 2.1% during mid-day trading on Friday . The company traded as high as $35.74 and last traded at $35.53. 1,432,611 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 8,316,311 shares. The stock had previously closed at $34.81.

2x Bitcoin Strategy ETF Stock Up 5.3 %

The firm’s fifty day moving average is $45.57 and its 200-day moving average is $46.48.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

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

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.