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

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

2x Bitcoin Strategy ETF Stock Performance

BITX traded up $3.58 during trading on Thursday, reaching $41.66. The stock had a trading volume of 3,896,325 shares, compared to its average volume of 3,570,732. The stock has a 50 day moving average of $44.19 and a two-hundred day moving average of $28.35. 2x Bitcoin Strategy ETF has a 1-year low of $9.18 and a 1-year high of $59.74.

Institutional Trading of 2x Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Kingswood Wealth Advisors LLC acquired a new position in shares of 2x Bitcoin Strategy ETF in the 4th quarter worth approximately $470,000. Graypoint LLC bought a new stake in 2x Bitcoin Strategy ETF during the fourth quarter worth approximately $572,000. Finally, Selway Asset Management acquired a new position in 2x Bitcoin Strategy ETF in the first quarter worth approximately $399,000.

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.