2x Bitcoin Strategy ETF Sees Unusually Large Options Volume (NYSEARCA:BITX)

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

2x Bitcoin Strategy ETF Trading Up 12.5 %

NYSEARCA:BITX opened at $59.64 on Friday. The company has a fifty day moving average of $37.98 and a 200 day moving average of $35.41. 2x Bitcoin Strategy ETF has a 52 week low of $18.21 and a 52 week high of $64.92.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kingswood Wealth Advisors LLC raised its holdings in shares of 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 valued at $5,264,000 after acquiring an additional 30,991 shares in the last quarter. Graypoint LLC increased its position in 2x Bitcoin Strategy ETF by 23.1% during the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares during the period. VitalStone Financial LLC increased its position in 2x Bitcoin Strategy ETF by 128.3% during the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after purchasing an additional 2,020 shares during the period. Finally, Hollencrest Capital Management bought a new position in 2x Bitcoin Strategy ETF in the 2nd quarter worth $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.