2x Ether ETF (NYSEARCA:ETHU) Stock Price Down 8.5% – What’s Next?

2x Ether ETF (NYSEARCA:ETHU)’s stock price fell 8.5% during trading on Friday . The company traded as low as $57.67 and last traded at $57.90. 4,952,527 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 4,382,906 shares. The stock had previously closed at $63.26.

2x Ether ETF Stock Down 8.6%

The stock’s fifty day moving average price is $96.65 and its two-hundred day moving average price is $101.78.

Institutional Investors Weigh In On 2x Ether ETF

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in 2x Ether ETF during the third quarter valued at $28,000. Silverleafe Capital Partners LLC purchased a new stake in shares of 2x Ether ETF in the 2nd quarter worth approximately $223,000. Beaumont Financial Advisors LLC bought a new position in shares of 2x Ether ETF in the third quarter worth approximately $376,000. OLD Mission Capital LLC purchased a new stake in 2x Ether ETF during the 1st quarter valued at $680,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in 2x Ether ETF in the 3rd quarter worth about $690,000.

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.