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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was the target of unusually large options trading on Wednesday. Investors acquired 35,167 call options on the company. This represents an increase of 41% compared to the typical daily volume of 24,963 call options.

2x Bitcoin Strategy ETF Price Performance

Shares of 2x Bitcoin Strategy ETF stock traded up $0.12 during trading on Wednesday, hitting $52.95. 26,443,394 shares of the stock traded hands, compared to its average volume of 5,948,249. The firm’s fifty day moving average is $30.30 and its 200-day moving average is $33.71. 2x Bitcoin Strategy ETF has a 52 week low of $16.88 and a 52 week high of $59.74.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BITX. Hollencrest Capital Management bought a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter worth $40,000. VitalStone Financial LLC lifted its position in shares of 2x Bitcoin Strategy ETF by 128.3% in the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after buying an additional 2,020 shares in the last quarter. Graypoint LLC increased its stake in 2x Bitcoin Strategy ETF by 23.1% during the third 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 increased its stake in 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 worth $5,264,000 after acquiring an additional 30,991 shares during the last quarter.

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.