2x Bitcoin Strategy ETF (NYSEARCA:BITX) Sees Large Volume Increase – Still a Buy?

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) saw strong trading volume on Friday . 4,110,437 shares changed hands during trading, a decline of 38% from the previous session’s volume of 6,619,985 shares.The stock last traded at $56.07 and had previously closed at $56.30.

2x Bitcoin Strategy ETF Stock Up 0.1 %

The firm has a fifty day moving average price of $48.81 and a 200 day moving average price of $37.34.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 17th. Shareholders 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

Several hedge funds have recently bought and sold shares of the company. Graypoint LLC lifted its holdings in 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 during the last quarter. VitalStone Financial LLC raised its position in shares of 2x Bitcoin Strategy ETF by 128.3% in the second 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. Finally, Hollencrest Capital Management bought a new position in shares of 2x Bitcoin Strategy ETF in the second quarter valued at about $40,000.

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.