2x Bitcoin Strategy ETF (NYSEARCA:BITX) Hits New 1-Year High – Here’s What Happened

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $62.06 and last traded at $62.06, with a volume of 1810453 shares traded. The stock had previously closed at $58.28.

2x Bitcoin Strategy ETF Stock Performance

The stock’s 50-day simple moving average is $34.74 and its 200 day simple moving average is $34.70.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently made changes to their positions in BITX. Kingswood Wealth Advisors LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after purchasing an additional 30,991 shares in the last quarter. VitalStone Financial LLC boosted its stake in shares of 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 purchasing an additional 2,020 shares during the last quarter. Hollencrest Capital Management purchased a new stake in 2x Bitcoin Strategy ETF in the second quarter valued at approximately $40,000. Finally, Graypoint LLC grew its holdings in 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the period.

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.