2x Bitcoin Strategy ETF Target of Unusually Large Options Trading (NYSEARCA:BITX)

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was the target of unusually large options trading on Monday. Traders bought 46,647 call options on the stock. This represents an increase of 129% compared to the typical volume of 20,377 call options.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of BITX. VitalStone Financial LLC lifted its stake in 2x Bitcoin Strategy ETF by 142.3% during the first quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after purchasing an additional 925 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock valued at $5,264,000 after buying an additional 30,991 shares in the last quarter. Finally, Hollencrest Capital Management bought a new stake in 2x Bitcoin Strategy ETF in the 2nd quarter worth approximately $40,000.

2x Bitcoin Strategy ETF Stock Down 1.5 %

Shares of NYSEARCA BITX traded down $0.55 during midday trading on Wednesday, hitting $35.28. 6,862,963 shares of the company’s stock were exchanged, compared to its average volume of 5,533,398. The business’s fifty day moving average price is $28.19 and its two-hundred day moving average price is $33.96. 2x Bitcoin Strategy ETF has a 12-month low of $16.50 and a 12-month high of $59.74.

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.