UltraShort Ether ETF (NYSEARCA:ETHD) Short Interest Down 38.6% in August

UltraShort Ether ETF (NYSEARCA:ETHD) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 55,783 shares, a drop of 38.6% from the July 30th total of 90,872 shares. Currently, 5.7% of the shares of the company are short sold. Based on an average trading volume of 183,316 shares, the days-to-cover ratio is presently 0.3 days.

UltraShort Ether ETF Trading Up 2.3%

Shares of NYSEARCA:ETHD traded up $0.73 during midday trading on Tuesday, hitting $31.89. The company had a trading volume of 596,313 shares, compared to its average volume of 588,212. UltraShort Ether ETF has a 12-month low of $27.60 and a 12-month high of $106.80. The company has a fifty day moving average of $61.21 and a two-hundred day moving average of $64.55.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Flow Traders U.S. LLC purchased a new position in shares of UltraShort Ether ETF during the 3rd quarter valued at about $901,000. Susquehanna International Group LLP boosted its position in shares of UltraShort Ether ETF by 23.3% in the third quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock worth $498,000 after purchasing an additional 25,540 shares during the period. Jane Street Group LLC increased its stake in shares of UltraShort Ether ETF by 184.2% in the second quarter. Jane Street Group LLC now owns 79,137 shares of the company’s stock worth $1,183,000 after purchasing an additional 51,295 shares in the last quarter. Group One Trading LLC bought a new stake in shares of UltraShort Ether ETF during the 3rd quarter valued at $172,000. Finally, IMC Chicago LLC bought a new stake in shares of UltraShort Ether ETF during the 1st quarter valued at $1,675,000.

UltraShort Ether ETF Company Profile

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.