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

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price was up 9% during trading on Thursday . The stock traded as high as $56.58 and last traded at $56.41. Approximately 2,880,060 shares changed hands during trading, a decline of 57% from the average daily volume of 6,713,087 shares. The stock had previously closed at $51.75.

2x Bitcoin Strategy ETF Price Performance

The firm has a fifty day moving average of $53.49 and a 200 day moving average of $38.18.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently added to or reduced their stakes in BITX. Hollencrest Capital Management bought a new position in shares of 2x Bitcoin Strategy ETF in the 2nd quarter worth approximately $40,000. VitalStone Financial LLC increased its holdings in 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after buying an additional 2,020 shares during the last quarter. Finally, Graypoint LLC raised its position in 2x Bitcoin Strategy ETF by 23.1% in the third 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 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.