2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading 7.9% Higher

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) rose 7.9% during trading on Friday . The company traded as high as $38.44 and last traded at $37.93. Approximately 2,280,014 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 3,720,055 shares. The stock had previously closed at $35.14.

2x Bitcoin Strategy ETF Price Performance

The stock has a 50 day moving average of $46.23 and a 200 day moving average of $30.45.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC raised its holdings in 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock worth $7,199,000 after purchasing an additional 114,524 shares during the last quarter. Graypoint LLC bought a new position in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $572,000. Finally, Selway Asset Management bought a new position in 2x Bitcoin Strategy ETF during the 1st quarter worth approximately $399,000.

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.