2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Up 6.9% – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares rose 6.9% on Monday . The stock traded as high as $55.93 and last traded at $55.72. Approximately 4,153,148 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 8,197,694 shares. The stock had previously closed at $52.12.

2x Bitcoin Strategy ETF Stock Performance

The stock’s 50 day moving average price is $45.92 and its 200-day moving average price is $50.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. DRW Securities LLC bought a new stake in 2x Bitcoin Strategy ETF during the first quarter valued at about $4,202,000. JBF Capital Inc. purchased a new stake in shares of 2x Bitcoin Strategy ETF during the fourth quarter valued at about $3,881,000. EverSource Wealth Advisors LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 8,916.8% during the first quarter. EverSource Wealth Advisors LLC now owns 12,894 shares of the company’s stock valued at $457,000 after buying an additional 12,751 shares during the last quarter. Silverleafe Capital Partners LLC bought a new stake in shares of 2x Bitcoin Strategy ETF in the 1st quarter valued at about $355,000. Finally, Jump Financial LLC boosted its holdings in shares of 2x Bitcoin Strategy ETF by 8.0% in the 4th quarter. Jump Financial LLC now owns 38,852 shares of the company’s stock valued at $2,011,000 after buying an additional 2,862 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.