2x Ether ETF (BATS:ETHU) Stock Price Down 9% – What’s Next?

2x Ether ETF (BATS:ETHU)’s share price traded down 9% during mid-day trading on Thursday. The stock traded as low as $22.92 and last traded at $23.44. 3,355,438 shares traded hands during trading, a decline of 48% from the average daily volume of 6,427,955 shares. The stock had previously closed at $25.76.

2x Ether ETF Stock Performance

The firm has a 50 day simple moving average of $26.43 and a two-hundred day simple moving average of $21.52.

Institutional Investors Weigh In On 2x Ether ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DGS Capital Management LLC purchased a new position in 2x Ether ETF in the first quarter worth $274,000. Kingswood Wealth Advisors LLC purchased a new stake in 2x Ether ETF during the third quarter worth about $235,000. Finally, Parallel Advisors LLC increased its holdings in 2x Ether ETF by 78.8% during the first quarter. Parallel Advisors LLC now owns 2,450 shares of the company’s stock worth $55,000 after buying an additional 1,080 shares during the last quarter.

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.