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

2x Ether ETF (NYSEARCA:ETHU)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $49.87, but opened at $54.89. 2x Ether ETF shares last traded at $53.87, with a volume of 2,079,757 shares trading hands.

2x Ether ETF Stock Performance

The stock has a 50 day moving average price of $81.70 and a 200 day moving average price of $101.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. OLD Mission Capital LLC bought a new stake in shares of 2x Ether ETF in the 1st quarter worth approximately $680,000. Silverleafe Capital Partners LLC purchased a new stake in 2x Ether ETF in the second quarter worth $223,000. Flow Traders U.S. LLC purchased a new stake in 2x Ether ETF in the second quarter worth $2,071,000. Jump Financial LLC bought a new stake in shares of 2x Ether ETF in the second quarter valued at $5,094,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of 2x Ether ETF during the 3rd quarter valued at $28,000.

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.