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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) saw unusually large options trading on Monday. Stock investors purchased 46,647 call options on the company. This represents an increase of 129% compared to the average volume of 20,377 call options.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several large investors have recently made changes to their positions in BITX. Kingswood Wealth Advisors LLC increased its stake 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 worth $5,264,000 after purchasing an additional 30,991 shares during the last quarter. VitalStone Financial LLC grew its holdings in 2x Bitcoin Strategy ETF by 128.3% during the second 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 purchased a new stake in 2x Bitcoin Strategy ETF in the second quarter worth $40,000.

2x Bitcoin Strategy ETF Price Performance

NYSEARCA:BITX traded down $0.55 during trading hours on Wednesday, hitting $35.28. 6,862,963 shares of the company traded hands, compared to its average volume of 5,533,398. The firm’s 50-day simple moving average is $28.19 and its 200-day simple moving average is $33.96. 2x Bitcoin Strategy ETF has a one year low of $16.50 and a one year 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.