2x Ether ETF (NYSEARCA:ETHU) Stock Price Down 6.9% – What’s Next?

2x Ether ETF (NYSEARCA:ETHU)’s stock price dropped 6.9% during trading on Wednesday . The company traded as low as $49.92 and last traded at $50.51. Approximately 4,010,711 shares were traded during trading, a decline of 24% from the average daily volume of 5,293,334 shares. The stock had previously closed at $54.27.

2x Ether ETF Price Performance

The business’s fifty day moving average is $59.58 and its two-hundred day moving average is $102.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new position in 2x Ether ETF in the 3rd quarter worth about $28,000. Beaumont Financial Advisors LLC purchased a new stake in shares of 2x Ether ETF during the 3rd quarter valued at about $376,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of 2x Ether ETF during the 3rd quarter valued at about $690,000. FNY Investment Advisers LLC bought a new stake in shares of 2x Ether ETF in the third quarter worth approximately $844,000. Finally, Flow Traders U.S. LLC purchased a new position in shares of 2x Ether ETF during the second quarter valued at approximately $2,071,000.

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.