2x Bitcoin Strategy ETF (NYSEARCA:BITX) Trading 6.2% Higher – Here’s Why

2x Bitcoin Strategy ETF (NYSEARCA:BITX)’s share price shot up 6.2% during trading on Friday . The company traded as high as $62.53 and last traded at $62.50. 2,234,306 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 7,802,969 shares. The stock had previously closed at $58.85.

2x Bitcoin Strategy ETF Trading Up 8.6 %

The company has a fifty day moving average price of $57.67 and a 200 day moving average price of $39.65.

2x Bitcoin Strategy ETF Cuts Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BITX. Graypoint LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in the 3rd 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 last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $171,000. Finally, Hollencrest Capital Management purchased a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter worth approximately $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.