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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was the target of some unusual options trading on Wednesday. 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.

2x Bitcoin Strategy ETF Stock Down 5.4 %

NYSEARCA:BITX opened at $50.15 on Friday. 2x Bitcoin Strategy ETF has a 1 year low of $17.63 and a 1 year high of $59.74. The business has a 50 day simple moving average of $30.85 and a 200-day simple moving average of $33.85.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new stake in shares of 2x Bitcoin Strategy ETF in the second quarter worth approximately $40,000. VitalStone Financial LLC raised its holdings 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 during the period. Graypoint LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 23.1% in the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after buying an additional 2,536 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of 2x Bitcoin Strategy ETF by 22.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 166,175 shares of the company’s stock worth $5,264,000 after buying an additional 30,991 shares during the period.

About 2x Bitcoin Strategy ETF

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.