2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Here’s What Happened

2x Ether ETF (NYSEARCA:ETHU) gapped up before the market opened on Wednesday . The stock had previously closed at $70.92, but opened at $76.70. 2x Ether ETF shares last traded at $76.93, with a volume of 2,573,444 shares changing hands.

2x Ether ETF Stock Up 9.5%

The company’s 50 day simple moving average is $128.06 and its 200 day simple moving average is $99.08.

Institutional Investors Weigh In On 2x Ether ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new stake in shares of 2x Ether ETF in the 3rd quarter valued at about $28,000. Beaumont Financial Advisors LLC bought a new stake in 2x Ether ETF in the third quarter valued at approximately $376,000. Silverleafe Capital Partners LLC acquired a new stake in shares of 2x Ether ETF in the second quarter valued at approximately $223,000. Kingswood Wealth Advisors LLC bought a new position in shares of 2x Ether ETF during the 3rd quarter worth approximately $690,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of 2x Ether ETF during the 2nd quarter worth approximately $2,071,000.

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.