2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading 9.9% Higher

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price was up 9.9% during trading on Thursday . The company traded as high as $29.28 and last traded at $28.95. Approximately 1,639,903 shares traded hands during trading, a decline of 68% from the average daily volume of 5,105,488 shares. The stock had previously closed at $26.34.

2x Bitcoin Strategy ETF Stock Performance

The firm has a 50 day moving average price of $29.38 and a two-hundred day moving average price of $38.07.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in 2x Bitcoin Strategy ETF during the 2nd quarter worth about $40,000. VitalStone Financial LLC increased its position in shares of 2x Bitcoin Strategy ETF by 128.3% in the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after acquiring an additional 2,020 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after acquiring an additional 30,991 shares during the period. Finally, Selway Asset Management purchased a new stake in shares of 2x Bitcoin Strategy ETF in the 1st quarter valued at approximately $399,000.

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.