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

2x Ether ETF (NYSEARCA:ETHU) gapped down before the market opened on Wednesday . The stock had previously closed at $54.95, but opened at $53.30. 2x Ether ETF shares last traded at $52.73, with a volume of 1,408,525 shares traded.

2x Ether ETF Stock Down 2.8%

The stock has a fifty day moving average price of $75.78 and a 200 day moving average price of $101.98.

Institutional Investors Weigh In On 2x Ether ETF

Several hedge funds and other institutional investors have recently made changes to their positions in ETHU. Farther Finance Advisors LLC bought a new position in 2x Ether ETF during the 3rd quarter valued at about $28,000. Silverleafe Capital Partners LLC bought a new position in shares of 2x Ether ETF during the second quarter valued at approximately $223,000. Beaumont Financial Advisors LLC bought a new position in shares of 2x Ether ETF during the third quarter valued at approximately $376,000. OLD Mission Capital LLC purchased a new stake in shares of 2x Ether ETF in the first quarter worth approximately $680,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of 2x Ether ETF during the 3rd quarter worth approximately $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.