2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Up 8%

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shot up 8% during mid-day trading on Tuesday . The stock traded as high as $29.64 and last traded at $29.55. 4,338,740 shares traded hands during trading, a decline of 10% from the average session volume of 4,800,557 shares. The stock had previously closed at $27.35.

2x Bitcoin Strategy ETF Trading Down 6.3 %

The company’s 50-day simple moving average is $34.36 and its 200-day simple moving average is $38.98.

2x Bitcoin Strategy ETF Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 23rd were given a $0.9677 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently modified their holdings of BITX. Selway Asset Management bought a new position in shares of 2x Bitcoin Strategy ETF in the first quarter valued at about $399,000. Kingswood Wealth Advisors LLC raised its position in shares of 2x Bitcoin Strategy ETF by 554.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock valued at $7,199,000 after purchasing an additional 114,524 shares during the period. VitalStone Financial LLC raised its position in shares of 2x Bitcoin Strategy ETF by 142.3% in the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock valued at $84,000 after purchasing an additional 925 shares during the period. Finally, Hollencrest Capital Management acquired a new position in shares of 2x Bitcoin Strategy ETF in the second quarter valued at about $40,000.

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.