UltraShort Ether ETF (NYSEARCA:ETHD) Shares Down 6.3% – What’s Next?

UltraShort Ether ETF (NYSEARCA:ETHD) traded down 6.3% on Thursday . The stock traded as low as $85.00 and last traded at $86.11. 345,672 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 701,526 shares. The stock had previously closed at $91.92.

UltraShort Ether ETF Stock Up 1.9%

The company has a fifty day simple moving average of $60.18 and a two-hundred day simple moving average of $60.30.

Hedge Funds Weigh In On UltraShort Ether ETF

Institutional investors have recently modified their holdings of the business. IMC Chicago LLC acquired a new position in shares of UltraShort Ether ETF during the 1st quarter worth $1,675,000. Renaissance Technologies LLC acquired a new position in shares of UltraShort Ether ETF during the 1st quarter worth $1,453,000. StoneX Group Inc. acquired a new position in shares of UltraShort Ether ETF during the 2nd quarter worth $156,000. Group One Trading LLC acquired a new position in shares of UltraShort Ether ETF during the 3rd quarter worth $172,000. Finally, Susquehanna International Group LLP raised its holdings in shares of UltraShort Ether ETF by 23.3% during the 3rd quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock worth $498,000 after buying 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.