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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was the recipient of some unusual options trading activity on Thursday. Investors purchased 8,351 call options on the company. This is an increase of 30% compared to the average volume of 6,427 call options.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

Several hedge funds have recently bought and sold shares of the company. Selway Asset Management acquired a new stake in 2x Bitcoin Strategy ETF in the 1st quarter valued at $399,000. Kingswood Wealth Advisors LLC bought a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at about $470,000. Finally, Graypoint LLC bought a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter valued at about $572,000.

2x Bitcoin Strategy ETF Trading Up 8.5 %

BITX opened at $41.31 on Friday. The firm’s fifty day moving average is $44.19 and its two-hundred day moving average is $28.35. 2x Bitcoin Strategy ETF has a twelve month low of $9.18 and a twelve month high of $59.74.

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.