2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading 7.4% Higher – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price traded up 7.4% during trading on Friday . The company traded as high as $37.97 and last traded at $37.23. 2,694,862 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 8,963,720 shares. The stock had previously closed at $34.65.

2x Bitcoin Strategy ETF Price Performance

The company has a 50-day moving average price of $52.04 and a two-hundred day moving average price of $44.93.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BITX. JBF Capital Inc. bought a new position in shares of 2x Bitcoin Strategy ETF during the 4th quarter valued at about $3,881,000. Jump Financial LLC lifted its position in 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock worth $2,011,000 after buying an additional 2,862 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in 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 worth $14,910,000 after buying an additional 66,398 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $171,000.

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.