2x Ether ETF (NYSEARCA:ETHU) Stock Price Down 13% – Should You Sell?

2x Ether ETF (NYSEARCA:ETHU) shares dropped 13% during trading on Wednesday . The company traded as low as $26.19 and last traded at $26.54. Approximately 4,150,776 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 6,069,771 shares. The stock had previously closed at $30.50.

2x Ether ETF Trading Down 11.1%

The company has a 50 day moving average of $56.70 and a two-hundred day moving average of $99.81.

Institutional Trading of 2x Ether ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC acquired a new stake in shares of 2x Ether ETF during the 2nd quarter valued at $2,071,000. Jump Financial LLC acquired a new position in shares of 2x Ether ETF in the second quarter worth about $5,094,000. Beaumont Financial Advisors LLC purchased a new position in shares of 2x Ether ETF in the third quarter worth approximately $376,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 2x Ether ETF in the third quarter worth approximately $690,000. Finally, Farther Finance Advisors LLC purchased a new stake in shares of 2x Ether ETF in the 3rd quarter valued at approximately $28,000.

About 2x Ether ETF

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.