2x Ether ETF (NYSEARCA:ETHU) Stock Price Down 10.4% – Here’s Why

2x Ether ETF (NYSEARCA:ETHU) fell 10.4% during mid-day trading on Wednesday . The stock traded as low as $20.00 and last traded at $20.01. 3,738,122 shares were traded during trading, a decline of 50% from the average session volume of 7,404,517 shares. The stock had previously closed at $22.34.

2x Ether ETF Price Performance

The stock has a fifty day moving average of $50.89 and a two-hundred day moving average of $94.81.

Institutional Trading of 2x Ether ETF

A number of institutional investors and hedge funds have recently bought and sold shares of ETHU. Farther Finance Advisors LLC purchased a new position in 2x Ether ETF in the third quarter valued at approximately $28,000. Beaumont Financial Advisors LLC acquired a new stake in shares of 2x Ether ETF in the third quarter worth $376,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 2x Ether ETF in the 3rd quarter valued at $690,000. FNY Investment Advisers LLC purchased a new position in shares of 2x Ether ETF in the 3rd quarter valued at $844,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of 2x Ether ETF during the 2nd quarter valued at $2,071,000.

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.