UltraShort Ether ETF (NYSEARCA:ETHD) Shares Gap Down – Should You Sell?

UltraShort Ether ETF (NYSEARCA:ETHD) gapped down before the market opened on Thursday . The stock had previously closed at $58.40, but opened at $55.90. UltraShort Ether ETF shares last traded at $56.6260, with a volume of 337,566 shares.

UltraShort Ether ETF Stock Performance

The firm’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $8.70.

Institutional Investors Weigh In On UltraShort Ether ETF

Institutional investors have recently added to or reduced their stakes in the stock. Simplex Trading LLC boosted its stake in UltraShort Ether ETF by 991.6% in the 1st quarter. Simplex Trading LLC now owns 1,430 shares of the company’s stock worth $77,000 after purchasing an additional 1,299 shares during the period. StoneX Group Inc. acquired a new stake in shares of UltraShort Ether ETF in the 2nd quarter valued at about $156,000. Jane Street Group LLC lifted its holdings in shares of UltraShort Ether ETF by 23.5% in the first quarter. Jane Street Group LLC now owns 27,842 shares of the company’s stock valued at $1,510,000 after purchasing an additional 5,298 shares in the last quarter. Group One Trading LLC bought a new stake in shares of UltraShort Ether ETF in the third quarter valued at about $172,000. Finally, Susquehanna International Group LLP boosted its position in shares of UltraShort Ether ETF by 23.3% during the third quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock worth $498,000 after buying an additional 25,540 shares during the period.

UltraShort Ether ETF Company Profile

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.