2x Bitcoin Strategy ETF (BATS:BITX – Get Free Report) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 6,596,612 shares, a decline of 38.0% from the June 15th total of 10,637,446 shares. Approximately 12.6% of the shares of the company are sold short. Based on an average daily volume of 9,555,508 shares, the days-to-cover ratio is presently 0.7 days.
2x Bitcoin Strategy ETF Price Performance
Shares of BITX stock opened at $12.23 on Friday. The stock’s 50-day simple moving average is $14.03 and its 200-day simple moving average is $18.04. 2x Bitcoin Strategy ETF has a fifty-two week low of $10.09 and a fifty-two week high of $67.92.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors acquired a new position in 2x Bitcoin Strategy ETF during the 4th quarter worth approximately $55,000. Root Financial Partners LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 1st quarter valued at $80,000. Captrust Financial Advisors raised its holdings in shares of 2x Bitcoin Strategy ETF by 128.4% in the 4th quarter. Captrust Financial Advisors now owns 12,212 shares of the company’s stock valued at $339,000 after purchasing an additional 6,865 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of 2x Bitcoin Strategy ETF during the 4th quarter worth $594,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 39.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 74,003 shares of the company’s stock worth $1,091,000 after purchasing an additional 21,114 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.
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