2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading 9% Higher – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price was up 9% during mid-day trading on Thursday . The company traded as high as $56.58 and last traded at $56.41. Approximately 2,880,060 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 6,713,087 shares. The stock had previously closed at $51.75.

2x Bitcoin Strategy ETF Stock Up 9.3 %

The business has a 50 day simple moving average of $52.47 and a 200-day simple moving average of $37.93.

2x Bitcoin Strategy ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 16th were issued a $0.5768 dividend. The ex-dividend date was Monday, December 16th.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Institutional investors have recently bought and sold shares of the stock. Graypoint LLC grew 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 in the last quarter. VitalStone Financial LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 128.3% during 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 in the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of 2x Bitcoin Strategy ETF in the second quarter worth $40,000.

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.