2x Ether ETF (NYSEARCA:ETHU) Trading Down 13.6% – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU) fell 13.6% during mid-day trading on Thursday . The stock traded as low as $46.31 and last traded at $46.92. 3,613,156 shares changed hands during trading, a decline of 28% from the average session volume of 5,000,732 shares. The stock had previously closed at $54.31.

2x Ether ETF Trading Down 14.9%

The stock has a 50 day moving average of $58.04 and a 200-day moving average of $101.33.

Hedge Funds Weigh In On 2x Ether ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Flow Traders U.S. LLC purchased a new stake in shares of 2x Ether ETF during the 2nd quarter worth $2,071,000. Jump Financial LLC acquired a new stake in shares of 2x Ether ETF during the second quarter worth about $5,094,000. Farther Finance Advisors LLC acquired a new stake in shares of 2x Ether ETF in the third quarter worth $28,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 2x Ether ETF during the 3rd quarter valued at about $690,000. Finally, Beaumont Financial Advisors LLC purchased a new position in 2x Ether ETF during the third quarter valued at approximately $376,000.

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.