2x Bitcoin Strategy ETF (NYSEARCA:BITX) Reaches New 1-Year High – Should You Buy?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) hit a new 52-week high on Thursday . The company traded as high as $62.06 and last traded at $62.06, with a volume of 1810453 shares. The stock had previously closed at $58.28.

2x Bitcoin Strategy ETF Stock Up 5.2 %

The firm’s 50 day simple moving average is $33.98 and its two-hundred day simple moving average is $34.50.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC boosted its holdings in 2x Bitcoin Strategy ETF by 22.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after purchasing an additional 30,991 shares during the last quarter. Graypoint LLC boosted its holdings in 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after purchasing an additional 2,536 shares during the last quarter. VitalStone Financial LLC boosted 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 worth $114,000 after purchasing an additional 2,020 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in 2x Bitcoin Strategy ETF during the second quarter worth 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.