2x Ether ETF (NYSEARCA:ETHU) Shares Gap Down – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU) gapped down before the market opened on Tuesday . The stock had previously closed at $66.03, but opened at $56.89. 2x Ether ETF shares last traded at $55.92, with a volume of 2,176,499 shares.

2x Ether ETF Stock Performance

The firm’s 50 day simple moving average is $58.80 and its 200-day simple moving average is $101.48.

Institutional Investors Weigh In On 2x Ether ETF

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

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.