2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Here’s What Happened

2x Ether ETF (NYSEARCA:ETHU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $18.78, but opened at $21.10. 2x Ether ETF shares last traded at $21.75, with a volume of 2,579,348 shares trading hands.

2x Ether ETF Stock Up 23.2%

The company has a 50 day moving average price of $44.99 and a 200-day moving average price of $89.73.

Institutional Trading of 2x Ether ETF

A number of hedge funds have recently added to or reduced their stakes in ETHU. Jump Financial LLC acquired a new stake in shares of 2x Ether ETF during the fourth quarter valued at about $2,297,000. DRW Securities LLC grew its holdings in 2x Ether ETF by 8,918.1% during the 4th quarter. DRW Securities LLC now owns 403,742 shares of the company’s stock worth $22,085,000 after acquiring an additional 399,265 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in 2x Ether ETF in the 3rd quarter valued at approximately $844,000. Beaumont Financial Advisors LLC bought a new position in shares of 2x Ether ETF during the third quarter valued at $376,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of 2x Ether ETF in the third quarter worth $690,000.

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.