2x Ether ETF (BATS:ETHU) Stock Price Down 5.3% – Here’s What Happened

Shares of 2x Ether ETF (BATS:ETHU) dropped 5.3% on Thursday . The company traded as low as $15.70 and last traded at $15.81. Approximately 4,538,224 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 6,453,941 shares. The stock had previously closed at $16.69.

2x Ether ETF Stock Down 1.3%

The firm has a 50 day moving average price of $15.61 and a 200-day moving average price of $26.14.

Hedge Funds Weigh In On 2x Ether ETF

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in 2x Ether ETF by 78.8% during the 1st quarter. Parallel Advisors LLC now owns 2,450 shares of the company’s stock valued at $55,000 after acquiring an additional 1,080 shares during the period. DGS Capital Management LLC acquired a new stake in shares of 2x Ether ETF in the first quarter worth $274,000. Jump Financial LLC acquired a new stake in shares of 2x Ether ETF in the fourth quarter worth $2,297,000. Finally, DRW Securities LLC raised its holdings in shares of 2x Ether ETF by 8,918.1% during the fourth quarter. DRW Securities LLC now owns 403,742 shares of the company’s stock worth $22,085,000 after purchasing an additional 399,265 shares during the last quarter.

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.