Short Interest in 2x Bitcoin Strategy ETF (BATS:BITX) Declines By 38.0%

2x Bitcoin Strategy ETF (BATS:BITX) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 6,596,612 shares, a decline of 38.0% from the June 15th total of 10,637,446 shares. Based on an average daily volume of 9,555,508 shares, the days-to-cover ratio is presently 0.7 days. Currently, 12.6% of the shares of the company are sold short.

2x Bitcoin Strategy ETF Stock Down 0.4%

Shares of BITX traded down $0.05 during trading hours on Friday, reaching $12.23. 8,020,833 shares of the company traded hands, compared to its average volume of 11,000,063. The stock’s fifty day moving average is $14.03 and its 200 day moving average is $18.04. 2x Bitcoin Strategy ETF has a 1-year low of $10.09 and a 1-year high of $67.92.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC grew its holdings in shares of 2x Bitcoin Strategy ETF by 1.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock worth $6,500,000 after purchasing an additional 2,985 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of 2x Bitcoin Strategy ETF by 203.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock valued at $1,467,000 after purchasing an additional 35,432 shares in the last quarter. Heritage Wealth Advisors acquired a new position in shares of 2x Bitcoin Strategy ETF in the fourth quarter valued at $55,000. Captrust Financial Advisors lifted its position in 2x Bitcoin Strategy ETF by 128.4% in the fourth quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock worth $339,000 after purchasing an additional 6,865 shares during the period. Finally, Jump Financial LLC bought a new position in 2x Bitcoin Strategy ETF in the fourth quarter worth $594,000.

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.