2x Ether ETF (NYSEARCA:ETHU) Trading Down 10.4% – Here’s Why

2x Ether ETF (NYSEARCA:ETHU) shares fell 10.4% during trading on Wednesday . The stock traded as low as $20.00 and last traded at $20.01. 3,738,122 shares traded hands during trading, a decline of 50% from the average session volume of 7,404,517 shares. The stock had previously closed at $22.34.

2x Ether ETF Price Performance

The firm’s 50 day simple moving average is $53.31 and its 200-day simple moving average is $96.55.

Institutional Investors Weigh In On 2x Ether ETF

A number of institutional investors and hedge funds have recently made changes to their positions in ETHU. Jump Financial LLC bought a new position in shares of 2x Ether ETF in the second quarter valued at $5,094,000. Flow Traders U.S. LLC bought a new position in shares of 2x Ether ETF in the 2nd quarter valued at about $2,071,000. FNY Investment Advisers LLC acquired a new position in shares of 2x Ether ETF during the 3rd quarter worth about $844,000. Kingswood Wealth Advisors LLC bought a new stake in shares of 2x Ether ETF in the 3rd quarter valued at about $690,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in 2x Ether ETF in the 3rd quarter valued at about $376,000.

About 2x Ether ETF

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.