2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading 7% Higher – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price was up 7% on Tuesday . The stock traded as high as $32.17 and last traded at $32.16. Approximately 9,855,881 shares were traded during trading, an increase of 3% from the average daily volume of 9,550,221 shares. The stock had previously closed at $30.06.

2x Bitcoin Strategy ETF Stock Performance

The stock has a 50-day simple moving average of $31.80 and a 200 day simple moving average of $48.18.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC acquired a new position in shares of 2x Bitcoin Strategy ETF in the second quarter worth $78,000. Kingswood Wealth Advisors LLC grew its position in 2x Bitcoin Strategy ETF by 16.4% in the second quarter. Kingswood Wealth Advisors LLC now owns 296,454 shares of the company’s stock worth $16,014,000 after acquiring an additional 41,710 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 35.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,415 shares of the company’s stock worth $941,000 after purchasing an additional 4,521 shares during the last quarter. Flow Traders U.S. LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 14.5% during the 2nd quarter. Flow Traders U.S. LLC now owns 37,381 shares of the company’s stock worth $2,019,000 after purchasing an additional 4,735 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 89.1% during the 2nd quarter. Jump Financial LLC now owns 77,167 shares of the company’s stock valued at $4,169,000 after purchasing an additional 36,362 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.