2x Ether ETF (BATS:ETHU) Shares Down 5.2% – Here’s What Happened

2x Ether ETF (BATS:ETHU)’s share price traded down 5.2% on Friday . The company traded as low as $25.42 and last traded at $25.97. Approximately 7,269,507 shares traded hands during trading, an increase of 13% from the average session volume of 6,445,196 shares. The stock had previously closed at $27.40.

2x Ether ETF Stock Down 5.2%

The firm has a 50 day simple moving average of $17.94 and a two-hundred day simple moving average of $20.30.

Hedge Funds Weigh In On 2x Ether ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DRW Securities LLC lifted its holdings in 2x Ether ETF by 8,918.1% in the fourth quarter. DRW Securities LLC now owns 403,742 shares of the company’s stock valued at $22,085,000 after acquiring an additional 399,265 shares during the period. Jump Financial LLC purchased a new stake in shares of 2x Ether ETF during the 4th quarter worth $2,297,000. DGS Capital Management LLC acquired a new position in shares of 2x Ether ETF during the 1st quarter worth $274,000. Finally, Parallel Advisors LLC grew its stake in shares of 2x Ether ETF by 78.8% during the 1st quarter. Parallel Advisors LLC now owns 2,450 shares of the company’s stock worth $55,000 after purchasing an additional 1,080 shares during the period.

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.