UltraShort Ether ETF (NYSEARCA:ETHD) Shares Shorted: Short Interest Down 45.1% in October

UltraShort Ether ETF (NYSEARCA:ETHD) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 64,594 shares, a drop of 45.1% from the September 30th total of 117,655 shares. Based on an average trading volume of 773,696 shares, the short-interest ratio is currently 0.1 days. Approximately 3.6% of the shares of the stock are short sold.

UltraShort Ether ETF Trading Down 3.8%

Shares of ETHD traded down $1.29 during mid-day trading on Monday, reaching $33.07. The company’s stock had a trading volume of 398,925 shares, compared to its average volume of 629,398. UltraShort Ether ETF has a 52 week low of $22.88 and a 52 week high of $106.80. The company’s fifty day moving average price is $28.80 and its two-hundred day moving average price is $55.93.

Hedge Funds Weigh In On UltraShort Ether ETF

A hedge fund recently bought a new position in UltraShort Ether ETF stock. Renaissance Technologies LLC purchased a new position in UltraShort Ether ETF (NYSEARCA:ETHD) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,100 shares of the company’s stock, valued at approximately $1,453,000. Renaissance Technologies LLC owned about 1.43% of UltraShort Ether ETF as of its most recent SEC filing.

About UltraShort Ether ETF

The ProShares UltraShort Ether ETF (ETHD) is an exchange-traded fund that is based on the Bloomberg Ethereum index. The fund tracks -2x the daily price movements of an index that measures the price of Ether. It uses futures contracts to provide inverse exposure without directly investing in Ether ETHD was launched on Jun 7, 2024 and is issued by ProShares.