2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Up 12.6% – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price rose 12.6% during trading on Monday . The company traded as high as $16.09 and last traded at $16.05. Approximately 10,531,871 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 12,833,918 shares. The stock had previously closed at $14.25.

2x Bitcoin Strategy ETF Price Performance

The stock has a 50-day moving average price of $23.84 and a two-hundred day moving average price of $38.80.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently made changes to their positions in BITX. Jump Financial LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 89.1% in the 2nd quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock worth $4,169,000 after buying an additional 36,362 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 2x Bitcoin Strategy ETF by 203.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock worth $1,467,000 after acquiring an additional 35,432 shares in the last quarter. Captrust Financial Advisors grew its position in 2x Bitcoin Strategy ETF by 128.4% during the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock valued at $339,000 after purchasing an additional 6,865 shares during the last quarter. Flow Traders U.S. LLC raised its holdings in 2x Bitcoin Strategy ETF by 14.5% in the second quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after buying an additional 4,735 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in shares of 2x Bitcoin Strategy ETF by 1.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after buying an additional 2,985 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.