2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Up 4% – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shot up 4% on Tuesday . The stock traded as high as $34.89 and last traded at $34.85. 2,123,177 shares were traded during trading, a decline of 61% from the average session volume of 5,459,108 shares. The stock had previously closed at $33.52.

2x Bitcoin Strategy ETF Trading Down 2.0 %

The stock’s 50-day moving average price is $28.19 and its 200-day moving average price is $33.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in 2x Bitcoin Strategy ETF during the second quarter worth $40,000. VitalStone Financial LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 128.3% in the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after acquiring an additional 2,020 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after acquiring an additional 30,991 shares during the last quarter.

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.