2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Still a Buy?

2x Ether ETF (NYSEARCA:ETHU)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $49.87, but opened at $54.89. 2x Ether ETF shares last traded at $53.87, with a volume of 2,079,757 shares.

2x Ether ETF Stock Up 15.4%

The firm has a 50 day moving average price of $78.68 and a 200-day moving average price of $101.51.

Hedge Funds Weigh In On 2x Ether ETF

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new position in shares of 2x Ether ETF during the third quarter valued at approximately $28,000. Beaumont Financial Advisors LLC bought a new position in shares of 2x Ether ETF in the third quarter worth about $376,000. Silverleafe Capital Partners LLC purchased a new position in 2x Ether ETF in the 2nd quarter worth about $223,000. Kingswood Wealth Advisors LLC bought a new stake in 2x Ether ETF during the 3rd quarter valued at about $690,000. Finally, FNY Investment Advisers LLC bought a new stake in 2x Ether ETF during the 3rd quarter valued at about $844,000.

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.