2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Up 9% – Here’s What Happened

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) shot up 9% during mid-day trading on Thursday . The company traded as high as $56.58 and last traded at $56.41. 2,880,060 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 6,713,087 shares. The stock had previously closed at $51.75.

2x Bitcoin Strategy ETF Stock Up 2.2 %

The company has a 50 day moving average of $53.49 and a two-hundred day moving average of $38.18.

2x Bitcoin Strategy ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 16th were paid a dividend of $0.5768 per share. The ex-dividend date was Monday, December 16th.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently added to or reduced their stakes in the stock. VitalStone Financial LLC raised its holdings in 2x Bitcoin Strategy ETF by 128.3% in the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after buying an additional 2,020 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF during the second quarter valued at approximately $40,000. Finally, Graypoint LLC raised its holdings in 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after acquiring an additional 2,536 shares during 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.