Ultra Ether ETF (NYSEARCA:ETHT) Shares Gap Down – Here’s Why

Shares of Ultra Ether ETF (NYSEARCA:ETHT) gapped down before the market opened on Monday . The stock had previously closed at $73.91, but opened at $67.58. Ultra Ether ETF shares last traded at $64.8890, with a volume of 372,566 shares changing hands.

Ultra Ether ETF Stock Performance

The business’s 50-day simple moving average is $94.22 and its two-hundred day simple moving average is $68.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Ultra Ether ETF by 50.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the company’s stock valued at $65,000 after buying an additional 546 shares in the last quarter. Beaumont Financial Advisors LLC acquired a new position in Ultra Ether ETF during the third quarter valued at approximately $230,000. 180 Wealth Advisors LLC acquired a new position in Ultra Ether ETF during the third quarter valued at approximately $231,000. Wealth Enhancement Advisory Services LLC acquired a new position in Ultra Ether ETF during the third quarter valued at approximately $294,000. Finally, Simplex Trading LLC lifted its position in Ultra Ether ETF by 226.3% during the second quarter. Simplex Trading LLC now owns 4,885 shares of the company’s stock valued at $192,000 after buying an additional 3,388 shares in the last quarter.

About Ultra Ether ETF

The ProShares Ultra Ether ETF (ETHT) is an exchange-traded fund that is based on the Bloomberg Ethereum index. The fund tracks 2x the daily price movements of an index that measures the price of Ether. It uses futures contracts to provide leveraged exposure without directly investing in Ether. ETHT was launched on Jun 7, 2024 and is issued by ProShares.