2x Ether ETF (NYSEARCA:ETHU) Trading Down 9.1% – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU)’s share price fell 9.1% during trading on Tuesday . The stock traded as low as $20.62 and last traded at $20.84. 2,122,959 shares were traded during mid-day trading, a decline of 71% from the average session volume of 7,308,893 shares. The stock had previously closed at $22.92.

2x Ether ETF Price Performance

The firm’s 50-day moving average price is $50.09 and its 200-day moving average price is $93.79.

Institutional Investors Weigh In On 2x Ether ETF

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in 2x Ether ETF in the 3rd quarter worth $28,000. Beaumont Financial Advisors LLC purchased a new position in 2x Ether ETF during the 3rd quarter valued at $376,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 2x Ether ETF during the third quarter valued at about $690,000. FNY Investment Advisers LLC purchased a new position in shares of 2x Ether ETF during the 3rd quarter worth approximately $844,000. Finally, Flow Traders U.S. LLC bought a new position in 2x Ether ETF in the second 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.