UltraShort Ether ETF (NYSEARCA:ETHD) Shares Set to Reverse Split on Thursday, November 20th

UltraShort Ether ETF (NYSEARCA:ETHD)’s stock is going to reverse split on Thursday, November 20th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 19th.

UltraShort Ether ETF Trading Down 9.7%

NYSEARCA:ETHD opened at $4.38 on Friday. UltraShort Ether ETF has a one year low of $2.76 and a one year high of $74.31. The firm’s fifty day moving average price is $3.68 and its two-hundred day moving average price is $11.06.

Institutional Investors Weigh In On UltraShort Ether ETF

Institutional investors have recently made changes to their positions in the stock. IMC Chicago LLC acquired a new position in UltraShort Ether ETF in the 3rd quarter valued at $1,352,000. Jane Street Group LLC increased its position in shares of UltraShort Ether ETF by 184.2% in the second quarter. Jane Street Group LLC now owns 79,137 shares of the company’s stock worth $1,183,000 after purchasing an additional 51,295 shares during the period. StoneX Group Inc. acquired a new position in UltraShort Ether ETF in the second quarter valued at about $156,000. Finally, Simplex Trading LLC raised its stake in UltraShort Ether ETF by 991.6% in the first quarter. Simplex Trading LLC now owns 1,430 shares of the company’s stock valued at $77,000 after purchasing an additional 1,299 shares in the last quarter.

About UltraShort Ether ETF

The ProShares UltraShort Ether ETF (ETHD) 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 inverse exposure without directly investing in Ether ETHD was launched on Jun 7, 2024 and is issued by ProShares.