2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading 2.1% Higher – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price traded up 2.1% during mid-day trading on Friday . The stock traded as high as $35.74 and last traded at $35.53. 1,432,611 shares traded hands during trading, a decline of 83% from the average session volume of 8,316,311 shares. The stock had previously closed at $34.81.

2x Bitcoin Strategy ETF Stock Performance

The company has a 50-day moving average of $46.11 and a 200 day moving average of $46.26.

Institutional Inflows and Outflows

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