2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Up 5.5% – Should You Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s stock price was up 5.5% during trading on Wednesday . The company traded as high as $62.25 and last traded at $62.12. Approximately 5,955,824 shares traded hands during mid-day 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 Stock Performance

The business’s 50 day simple moving average is $58.95 and its two-hundred day simple moving average is $41.34.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 16th were given 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 hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in 2x Bitcoin Strategy ETF in the 4th quarter worth $171,000. Graypoint LLC boosted 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 worth $386,000 after acquiring an additional 2,536 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its holdings in 2x Bitcoin Strategy ETF by 29.9% in the 4th 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 in 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.