2x Ether ETF (NYSEARCA:ETHU) Shares Gap Down – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $21.18, but opened at $20.03. 2x Ether ETF shares last traded at $19.80, with a volume of 895,144 shares trading hands.

2x Ether ETF Stock Up 23.8%

The firm’s 50 day moving average is $44.99 and its 200 day moving average is $89.73.

Institutional Investors Weigh In On 2x Ether ETF

Several institutional investors and hedge funds have recently bought and sold shares of ETHU. Farther Finance Advisors LLC purchased a new position in shares of 2x Ether ETF during the third quarter valued at about $28,000. Beaumont Financial Advisors LLC bought a new stake in 2x Ether ETF during the 3rd quarter valued at approximately $376,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 2x Ether ETF during the 3rd quarter worth approximately $690,000. FNY Investment Advisers LLC purchased a new position in shares of 2x Ether ETF during the 3rd quarter worth approximately $844,000. Finally, Flow Traders U.S. LLC bought a new position in shares of 2x Ether ETF in the 2nd quarter worth approximately $2,071,000.

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.