2x Ether ETF (NYSEARCA:ETHU) Shares Down 8.9% – Should You Sell?

2x Ether ETF (NYSEARCA:ETHU)’s share price fell 8.9% during trading on Thursday . The stock traded as low as $52.50 and last traded at $52.50. 6,528,209 shares traded hands during trading, an increase of 55% from the average session volume of 4,221,378 shares. The stock had previously closed at $57.61.

2x Ether ETF Stock Down 6.8%

The stock’s 50 day moving average price is $111.80 and its two-hundred day moving average price is $101.43.

Hedge Funds Weigh In On 2x Ether ETF

Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in shares of 2x Ether ETF during the third quarter worth $28,000. Silverleafe Capital Partners LLC acquired a new position in 2x Ether ETF during the 2nd quarter worth about $223,000. Beaumont Financial Advisors LLC bought a new stake in 2x Ether ETF during the 3rd quarter worth about $376,000. OLD Mission Capital LLC acquired a new stake in 2x Ether ETF in the 1st quarter valued at about $680,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of 2x Ether ETF in the third quarter worth about $690,000.

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.