2x Ether ETF (NYSEARCA:ETHU) Shares Gap Down – Should You Sell?

2x Ether ETF (NYSEARCA:ETHU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $58.29, but opened at $55.64. 2x Ether ETF shares last traded at $54.75, with a volume of 1,290,603 shares changing hands.

2x Ether ETF Stock Performance

The business’s 50-day simple moving average is $109.86 and its 200 day simple moving average is $102.51.

Institutional Investors Weigh In On 2x Ether ETF

A number of institutional investors have recently added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new position in shares of 2x Ether ETF during the 1st quarter valued at $680,000. Silverleafe Capital Partners LLC acquired a new position in 2x Ether ETF during the second quarter worth about $223,000. Farther Finance Advisors LLC bought a new stake in 2x Ether ETF in the third quarter worth about $28,000. Kingswood Wealth Advisors LLC acquired a new stake in 2x Ether ETF in the 3rd quarter valued at about $690,000. Finally, Beaumont Financial Advisors LLC bought a new position in shares of 2x Ether ETF during the 3rd quarter valued at about $376,000.

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.