Ultra Ether ETF (NYSEARCA:ETHT) Trading 0.1% Higher – Still a Buy?

Ultra Ether ETF (NYSEARCA:ETHT) shares traded up 0.1% on Friday . The stock traded as high as $37.29 and last traded at $35.44. 2,876,797 shares were traded during trading, an increase of 89% from the average session volume of 1,520,999 shares. The stock had previously closed at $35.40.

Ultra Ether ETF Trading Up 0.1%

The business has a 50-day moving average price of $40.27 and a two-hundred day moving average price of $70.57.

Institutional Investors Weigh In On Ultra Ether ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Mutual Advisors LLC increased its holdings in shares of Ultra Ether ETF by 92.5% in the 2nd quarter. Mutual Advisors LLC now owns 19,480 shares of the company’s stock worth $769,000 after acquiring an additional 9,359 shares during the period. Simplex Trading LLC increased its stake in shares of Ultra Ether ETF by 226.3% in the second quarter. Simplex Trading LLC now owns 4,885 shares of the company’s stock valued at $192,000 after purchasing an additional 3,388 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of Ultra Ether ETF during the second quarter valued at approximately $2,713,000. 180 Wealth Advisors LLC acquired a new position in shares of Ultra Ether ETF during the third quarter worth approximately $231,000. Finally, Beaumont Financial Advisors LLC bought a new position in Ultra Ether ETF in the 3rd quarter worth approximately $230,000.

About Ultra Ether ETF

The ProShares Ultra Ether ETF (ETHT) 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 leveraged exposure without directly investing in Ether. ETHT was launched on Jun 7, 2024 and is issued by ProShares.