2x Bitcoin Strategy ETF (NYSEARCA:BITX) Reaches New 1-Year High – Should You Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price reached a new 52-week high on Thursday . The company traded as high as $62.06 and last traded at $62.06, with a volume of 1810453 shares. The stock had previously closed at $58.28.

2x Bitcoin Strategy ETF Stock Performance

The stock’s fifty day moving average is $33.98 and its two-hundred day moving average is $34.50.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of BITX. Hollencrest Capital Management bought a new position in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth $40,000. VitalStone Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 128.3% in the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after buying an additional 2,020 shares during the last quarter. Graypoint LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after buying an additional 2,536 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after buying an additional 30,991 shares during 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.