2x Ether ETF (BATS:ETHU) Trading Down 0.7% – Should You Sell?

2x Ether ETF (BATS:ETHU) shares were down 0.7% on Friday . The stock traded as low as $15.39 and last traded at $15.70. Approximately 1,978,202 shares were traded during trading, a decline of 68% from the average daily volume of 6,226,232 shares. The stock had previously closed at $15.81.

2x Ether ETF Price Performance

The stock’s 50 day simple moving average is $14.61 and its 200-day simple moving average is $21.39.

Institutional Investors Weigh In On 2x Ether ETF

Institutional investors and hedge funds have recently modified their holdings of the business. DRW Securities LLC increased its position in 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 buying an additional 399,265 shares during the last quarter. Jump Financial LLC bought a new position in 2x Ether ETF during the fourth quarter valued at about $2,297,000. DGS Capital Management LLC acquired a new stake in shares of 2x Ether ETF in the first quarter worth about $274,000. Finally, Parallel Advisors LLC lifted its position in shares of 2x Ether ETF by 78.8% in the first quarter. Parallel Advisors LLC now owns 2,450 shares of the company’s stock worth $55,000 after buying an additional 1,080 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.