2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Up 6.5% – Here’s What Happened

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price shot up 6.5% on Monday . The company traded as high as $29.84 and last traded at $29.66. 1,905,775 shares traded hands during trading, a decline of 64% from the average session volume of 5,274,821 shares. The stock had previously closed at $27.85.

2x Bitcoin Strategy ETF Price Performance

The business has a 50-day simple moving average of $27.19 and a two-hundred day simple moving average of $35.15.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF in the 2nd quarter valued at approximately $40,000. VitalStone Financial LLC boosted its holdings in 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 acquiring an additional 925 shares during the last quarter. Selway Asset Management acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 1st quarter worth approximately $399,000. Finally, Kingswood Wealth Advisors LLC grew its holdings in 2x Bitcoin Strategy ETF by 22.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after acquiring an additional 30,991 shares during the period.

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.