2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Still a Buy?

2x Ether ETF (NYSEARCA:ETHU)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $60.32, but opened at $62.54. 2x Ether ETF shares last traded at $62.85, with a volume of 1,523,578 shares changing hands.

2x Ether ETF Trading Up 7.5%

The company has a fifty day moving average price of $119.40 and a two-hundred day moving average price of $101.75.

Institutional Investors Weigh In On 2x Ether ETF

A number of institutional investors and hedge funds have recently made changes to their positions in ETHU. OLD Mission Capital LLC bought a new position in shares of 2x Ether ETF in the first quarter valued at $680,000. Silverleafe Capital Partners LLC acquired a new stake in 2x Ether ETF in the second quarter valued at $223,000. Flow Traders U.S. LLC bought a new position in shares of 2x Ether ETF in the 2nd quarter valued at about $2,071,000. Jump Financial LLC acquired a new position in shares of 2x Ether ETF during the 2nd quarter worth about $5,094,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of 2x Ether ETF during the 3rd quarter worth about $28,000.

2x Ether ETF Company Profile

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.