2x Ether ETF (NYSEARCA:ETHU) Shares Gap Down – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $65.10, but opened at $61.18. 2x Ether ETF shares last traded at $61.93, with a volume of 2,750,728 shares changing hands.

2x Ether ETF Trading Down 6.5%

The business has a fifty day moving average price of $114.17 and a 200-day moving average price of $101.32.

Institutional Trading of 2x Ether ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Beaumont Financial Advisors LLC acquired a new position in 2x Ether ETF in the 3rd quarter worth about $376,000. Kingswood Wealth Advisors LLC bought a new stake in 2x Ether ETF during the third quarter valued at $690,000. Farther Finance Advisors LLC acquired a new stake in 2x Ether ETF during the third quarter worth approximately $28,000. Jump Financial LLC acquired a new stake in shares of 2x Ether ETF during the 2nd quarter worth approximately $5,094,000. Finally, Flow Traders U.S. LLC bought a new stake in 2x Ether ETF in the second quarter valued at $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.