2x Ether ETF (NYSEARCA:ETHU) Trading Down 5.4% – What’s Next?

2x Ether ETF (NYSEARCA:ETHU) shares were down 5.4% during mid-day trading on Thursday . The company traded as low as $65.98 and last traded at $66.32. Approximately 2,479,699 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 5,081,364 shares. The stock had previously closed at $70.13.

2x Ether ETF Price Performance

The business has a 50-day moving average of $60.50 and a 200-day moving average of $101.49.

Hedge Funds Weigh In On 2x Ether ETF

A number of hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new stake in 2x Ether ETF in the 3rd quarter valued at $28,000. Beaumont Financial Advisors LLC acquired a new position in 2x Ether ETF in the third quarter valued at $376,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of 2x Ether ETF during the 3rd quarter worth $690,000. FNY Investment Advisers LLC purchased a new stake in shares of 2x Ether ETF during the 3rd quarter worth $844,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of 2x Ether ETF during the 2nd quarter worth $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.