2x Bitcoin Strategy ETF (BATS:BITX) Shares Up 1.6% – Here’s Why

2x Bitcoin Strategy ETF (BATS:BITX)’s stock price shot up 1.6% during trading on Friday . The company traded as high as $12.57 and last traded at $12.41. 6,904,284 shares traded hands during trading, a decline of 35% from the average session volume of 10,604,729 shares. The stock had previously closed at $12.21.

2x Bitcoin Strategy ETF Trading Up 1.6%

The company’s 50-day simple moving average is $12.13 and its two-hundred day simple moving average is $16.20.

Institutional Trading of 2x Bitcoin Strategy ETF

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 39.9% in the first quarter. EverSource Wealth Advisors LLC now owns 74,003 shares of the company’s stock worth $1,091,000 after purchasing an additional 21,114 shares during the last quarter. Root Financial Partners LLC bought a new position in 2x Bitcoin Strategy ETF during the 1st quarter valued at approximately $80,000. Jump Financial LLC purchased a new stake in 2x Bitcoin Strategy ETF in the 4th quarter worth approximately $594,000. Captrust Financial Advisors lifted its holdings in 2x Bitcoin Strategy ETF by 128.4% in the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock worth $339,000 after buying an additional 6,865 shares during the period. Finally, Heritage Wealth Advisors purchased a new stake in 2x Bitcoin Strategy ETF in the 4th quarter worth approximately $55,000.

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.