2x Ether ETF (NYSEARCA:ETHU) Shares Down 5.4% – What’s Next?

2x Ether ETF (NYSEARCA:ETHU) shares were down 5.4% on Thursday . The company traded as low as $65.98 and last traded at $66.32. Approximately 2,479,699 shares changed hands during trading, a decline of 51% from the average daily volume of 5,081,364 shares. The stock had previously closed at $70.13.

2x Ether ETF Stock Down 5.7%

The business’s 50 day simple moving average is $60.99 and its 200-day simple moving average is $101.67.

Institutional Investors Weigh In On 2x Ether ETF

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new position in 2x Ether ETF in the third quarter valued at about $28,000. Beaumont Financial Advisors LLC bought a new stake in shares of 2x Ether ETF in the 3rd quarter valued at about $376,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of 2x Ether ETF in the 3rd quarter valued at approximately $690,000. FNY Investment Advisers LLC bought a new position in 2x Ether ETF during the 3rd quarter worth approximately $844,000. Finally, Flow Traders U.S. LLC acquired a new position in 2x Ether ETF during the second 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.