2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Up 8.6% – Time to Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price rose 8.6% on Monday . The stock traded as high as $41.00 and last traded at $40.87. Approximately 1,131,789 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 8,685,714 shares. The stock had previously closed at $37.65.

2x Bitcoin Strategy ETF Price Performance

The company has a fifty day simple moving average of $49.54 and a two-hundred day simple moving average of $45.93.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently added to or reduced their stakes in the business. JBF Capital Inc. acquired a new position in 2x Bitcoin Strategy ETF during the fourth quarter worth about $3,881,000. Kingswood Wealth Advisors LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 29.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after purchasing an additional 66,398 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $171,000. Finally, Jump Financial LLC raised its position in shares of 2x Bitcoin Strategy ETF by 8.0% during the 4th 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.

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.