2x Bitcoin Strategy ETF (NYSEARCA:BITX) Sees Unusually-High Trading Volume – What’s Next?

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) saw unusually-strong trading volume on Friday . Approximately 4,110,437 shares were traded during mid-day trading, a decline of 38% from the previous session’s volume of 6,619,985 shares.The stock last traded at $56.07 and had previously closed at $56.30.

2x Bitcoin Strategy ETF Stock Up 1.4 %

The business has a 50 day moving average of $48.24 and a 200 day moving average of $37.33.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 16th were given a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Institutional Trading of 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently modified their holdings of BITX. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth about $40,000. VitalStone Financial LLC increased its position 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 valued at $114,000 after acquiring an additional 2,020 shares during the period. Finally, Graypoint LLC lifted its position in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the period.

About 2x Bitcoin Strategy ETF

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.