Stock Traders Buy High Volume of 2x Bitcoin Strategy ETF Call Options (NYSEARCA:BITX)

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was the target of unusually large options trading on Thursday. Traders bought 68,910 call options on the stock. This represents an increase of 127% compared to the typical volume of 30,299 call options.

2x Bitcoin Strategy ETF Price Performance

Shares of NYSEARCA BITX opened at $59.64 on Friday. The business has a 50-day moving average of $37.98 and a 200-day moving average of $35.41. 2x Bitcoin Strategy ETF has a 12 month low of $18.21 and a 12 month high of $64.92.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of institutional investors have recently made changes to their positions in BITX. Hollencrest Capital Management bought a new stake in 2x Bitcoin Strategy ETF in the 2nd quarter worth approximately $40,000. VitalStone Financial LLC lifted its holdings in shares of 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 acquiring an additional 2,020 shares during the last quarter. Graypoint LLC lifted 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. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of 2x Bitcoin Strategy ETF by 22.9% in the 2nd 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 in 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.