2x Ether ETF (NYSEARCA:ETHU) Shares Down 6.9% – What’s Next?

2x Ether ETF (NYSEARCA:ETHU)’s stock price was down 6.9% on Wednesday . The stock traded as low as $49.92 and last traded at $50.51. Approximately 4,010,711 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 5,293,334 shares. The stock had previously closed at $54.27.

2x Ether ETF Price Performance

The company’s fifty day simple moving average is $59.58 and its 200 day simple moving average is $102.15.

Institutional Trading of 2x Ether ETF

Several institutional investors and hedge funds have recently bought and sold shares of ETHU. FNY Investment Advisers LLC purchased a new position in shares of 2x Ether ETF during the 3rd quarter worth approximately $844,000. Beaumont Financial Advisors LLC purchased a new position in shares of 2x Ether ETF in the 3rd quarter valued at approximately $376,000. Kingswood Wealth Advisors LLC bought a new stake in shares of 2x Ether ETF during the third quarter valued at approximately $690,000. Farther Finance Advisors LLC purchased a new stake in 2x Ether ETF in the third quarter worth $28,000. Finally, Jump Financial LLC bought a new position in 2x Ether ETF in the second quarter worth $5,094,000.

2x Ether ETF Company Profile

The 2x Ether ETF (ETHU) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is actively managed, aiming to provide 2x the daily price movements of Ether (ETH). The funds primary investment is cash-settled CME Ether futures ETHU was launched on Jun 4, 2024 and is issued by Volatility Shares.