2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Up 7.4% – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price shot up 7.4% during mid-day trading on Friday . The company traded as high as $37.97 and last traded at $37.23. 2,694,862 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 8,963,720 shares. The stock had previously closed at $34.65.

2x Bitcoin Strategy ETF Price Performance

The stock’s 50 day moving average is $51.65 and its 200-day moving average is $45.09.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in 2x Bitcoin Strategy ETF in the 4th quarter worth approximately $171,000. Jump Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 shares during the last quarter. JBF Capital Inc. bought a new position in 2x Bitcoin Strategy ETF during the 4th quarter valued at about $3,881,000. Finally, Kingswood Wealth Advisors LLC grew its holdings in 2x Bitcoin Strategy ETF by 29.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock valued at $14,910,000 after purchasing an additional 66,398 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.