UltraShort Ether ETF Stock to Reverse Split on Thursday, November 20th (NYSEARCA:ETHD)

UltraShort Ether ETF (NYSEARCA:ETHD)’s stock is set to reverse split on Thursday, November 20th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 19th.

UltraShort Ether ETF Trading Up 7.3%

NYSEARCA:ETHD opened at $4.43 on Wednesday. The firm’s fifty day moving average price is $3.70 and its 200 day moving average price is $9.99. UltraShort Ether ETF has a 1-year low of $2.76 and a 1-year high of $74.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Simplex Trading LLC lifted its holdings in shares of UltraShort Ether ETF by 991.6% in the 1st quarter. Simplex Trading LLC now owns 1,430 shares of the company’s stock valued at $77,000 after buying an additional 1,299 shares during the period. StoneX Group Inc. purchased a new position in UltraShort Ether ETF in the second quarter valued at about $156,000. Jane Street Group LLC increased its holdings in UltraShort Ether ETF by 23.5% in the first quarter. Jane Street Group LLC now owns 27,842 shares of the company’s stock valued at $1,510,000 after buying an additional 5,298 shares in the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of UltraShort Ether ETF during the 3rd quarter valued at approximately $1,352,000.

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.