2x Bitcoin Strategy ETF (NYSEARCA:BITX) Hits New 52-Week High – Should You Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price reached a new 52-week high on Thursday . The company traded as high as $67.18 and last traded at $67.18, with a volume of 1361566 shares. The stock had previously closed at $62.19.

2x Bitcoin Strategy ETF Stock Performance

The firm’s 50 day moving average is $40.41 and its 200 day moving average is $35.89.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

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