2x Bitcoin Strategy ETF (BATS:BITX) Shares Up 1.6% – Here’s Why

2x Bitcoin Strategy ETF (BATS:BITX)’s share price rose 1.6% on Friday . The stock traded as high as $12.57 and last traded at $12.41. Approximately 6,904,284 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 10,604,729 shares. The stock had previously closed at $12.21.

2x Bitcoin Strategy ETF Stock Performance

The firm’s 50-day simple moving average is $12.13 and its 200-day simple moving average is $16.20.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Heritage Wealth Advisors bought a new position in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $55,000. Root Financial Partners LLC bought a new stake in 2x Bitcoin Strategy ETF in the first quarter valued at approximately $80,000. 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 valued at $339,000 after purchasing an additional 6,865 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $594,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 203.0% during 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 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.