Investors Buy Large Volume of 2x Bitcoin Strategy ETF Call Options (NYSEARCA:BITX)

2x Bitcoin Strategy ETF (NYSEARCA:BITX) saw some unusual options trading activity on Wednesday. Stock traders purchased 35,167 call options on the stock. This is an increase of 41% compared to the typical volume of 24,963 call options.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in BITX. Hollencrest Capital Management purchased a new stake in shares of 2x Bitcoin Strategy ETF during the 2nd quarter valued at $40,000. VitalStone Financial LLC grew its stake in shares of 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 acquiring an additional 2,020 shares during the last quarter. Graypoint LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% during 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 in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position 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 during the last quarter.

2x Bitcoin Strategy ETF Stock Performance

Shares of 2x Bitcoin Strategy ETF stock traded down $0.99 during trading on Thursday, hitting $52.01. 5,421,002 shares of the stock traded hands, compared to its average volume of 5,948,117. 2x Bitcoin Strategy ETF has a 52-week low of $17.63 and a 52-week high of $59.74. The stock’s fifty day simple moving average is $30.85 and its 200 day simple moving average is $33.85.

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.