2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Up 5.8% – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price rose 5.8% during trading on Wednesday . The stock traded as high as $61.80 and last traded at $61.71. Approximately 3,020,061 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 6,440,060 shares. The stock had previously closed at $58.33.

2x Bitcoin Strategy ETF Price Performance

The firm’s 50-day simple moving average is $42.96 and its 200 day simple moving average is $36.24.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of institutional investors have recently bought and sold shares of BITX. VitalStone Financial LLC increased its stake in 2x Bitcoin Strategy ETF by 128.3% in 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 in the last quarter. Hollencrest Capital Management purchased a new position in 2x Bitcoin Strategy ETF during the 2nd quarter valued at about $40,000. Finally, Graypoint LLC grew its stake in 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after acquiring an additional 2,536 shares in the last quarter.

2x Bitcoin Strategy ETF Company Profile

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.