2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading Up 5.5% – Here’s Why

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) rose 5.5% during trading on Wednesday . The stock traded as high as $62.25 and last traded at $62.12. Approximately 5,955,824 shares traded hands during trading, a decline of 34% from the average daily volume of 9,016,728 shares. The stock had previously closed at $58.90.

2x Bitcoin Strategy ETF Trading Up 5.9 %

The business has a fifty day moving average price of $58.95 and a 200 day moving average price of $41.34.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in 2x Bitcoin Strategy ETF during the fourth quarter valued at approximately $171,000. Graypoint LLC grew its stake in shares of 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 29.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 288,112 shares of the company’s stock worth $14,910,000 after purchasing an additional 66,398 shares during the period.

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.