2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Up 8.6% – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares traded up 8.6% during mid-day trading on Monday . The company traded as high as $41.00 and last traded at $40.87. 1,131,789 shares changed hands during trading, a decline of 87% from the average session volume of 8,685,714 shares. The stock had previously closed at $37.65.

2x Bitcoin Strategy ETF Stock Performance

The stock’s 50 day moving average price is $49.99 and its 200-day moving average price is $45.66.

Institutional Trading of 2x Bitcoin Strategy ETF

A number of large investors have recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 29.9% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter valued at about $171,000. JBF Capital Inc. bought a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter valued at about $3,881,000. Finally, Jump Financial LLC raised its holdings 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 valued at $2,011,000 after acquiring an additional 2,862 shares in 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.