2x Bitcoin Strategy ETF (NYSEARCA:BITX) Sees Strong Trading Volume – Time to Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares saw unusually-high trading volume on Tuesday . Approximately 5,919,449 shares changed hands during trading, an increase of 2% from the previous session’s volume of 5,797,100 shares.The stock last traded at $50.06 and had previously closed at $49.98.

2x Bitcoin Strategy ETF Price Performance

The stock has a 50 day moving average of $30.85 and a 200 day moving average of $33.85.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Graypoint LLC grew 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 valued at $386,000 after acquiring an additional 2,536 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of 2x Bitcoin Strategy ETF during the 2nd quarter valued at $40,000. VitalStone Financial LLC increased its holdings in 2x Bitcoin Strategy ETF by 128.3% in the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after purchasing an additional 2,020 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in 2x Bitcoin Strategy ETF by 22.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after purchasing an additional 30,991 shares during the last quarter.

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.