2x XRP ETF (NASDAQ:XRPT) Trading Down 2.6% – Time to Sell?

Shares of 2x XRP ETF (NASDAQ:XRPT) dropped 2.6% during mid-day trading on Wednesday . The stock traded as low as $2.15 and last traded at $2.29. Approximately 10,921,132 shares traded hands during mid-day trading, an increase of 83% from the average daily volume of 5,956,723 shares. The stock had previously closed at $2.35.

2x XRP ETF Stock Performance

The firm has a 50 day simple moving average of $5.23 and a 200 day simple moving average of $11.22.

2x XRP ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, January 22nd. Investors of record on Wednesday, January 21st were issued a $0.0052 dividend. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, January 21st.

Hedge Funds Weigh In On 2x XRP ETF

A hedge fund recently bought a new stake in 2x XRP ETF stock. Flow Traders U.S. LLC purchased a new stake in shares of 2x XRP ETF (NASDAQ:XRPT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 172,923 shares of the company’s stock, valued at approximately $2,269,000. Flow Traders U.S. LLC owned about 3.87% of 2x XRP ETF as of its most recent SEC filing.

2x XRP ETF Company Profile

Volatility Shares Trust – 2x XRP ETF is an exchange traded fund launched and managed by Volatility Shares LLC. The fund seeks to invest in various financial instruments. For its fixed income portion, it primarily invests in cash, cash-like instruments or high-quality securities. For its currency portion, it invests through derivatives in XRP. The fund uses derivatives such as futures and swaps to create its portfolio. It seeks to invest in XRP futures through a wholly-owned Cayman Islands subsidiary.