UltraShort Ether ETF (NYSEARCA:ETHD) Shares Down 2.6% – Should You Sell?

UltraShort Ether ETF (NYSEARCA:ETHD)’s stock price fell 2.6% during mid-day trading on Wednesday . The company traded as low as $56.89 and last traded at $57.37. 174,528 shares traded hands during trading, a decline of 76% from the average session volume of 739,469 shares. The stock had previously closed at $58.93.

UltraShort Ether ETF Stock Performance

The stock has a 50-day moving average of $55.81 and a 200-day moving average of $57.60.

Institutional Investors Weigh In On UltraShort Ether ETF

A number of large investors have recently modified their holdings of ETHD. IMC Chicago LLC acquired a new stake in shares of UltraShort Ether ETF in the 3rd quarter valued at $1,352,000. Flow Traders U.S. LLC acquired a new stake in shares of UltraShort Ether ETF in the 3rd quarter valued at $901,000. Jane Street Group LLC boosted its holdings in shares of UltraShort Ether ETF by 184.2% in the 2nd quarter. Jane Street Group LLC now owns 79,137 shares of the company’s stock valued at $1,183,000 after purchasing an additional 51,295 shares in the last quarter. Group One Trading LLC acquired a new stake in shares of UltraShort Ether ETF in the 3rd quarter valued at $172,000. Finally, Susquehanna International Group LLP boosted its holdings in shares of UltraShort Ether ETF by 23.3% in the 3rd quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock valued at $498,000 after purchasing an additional 25,540 shares in the last quarter.

About UltraShort Ether ETF

The ProShares UltraShort Ether ETF (ETHD) 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 inverse exposure without directly investing in Ether ETHD was launched on Jun 7, 2024 and is issued by ProShares.