2x Ether ETF (BATS:ETHU) Shares Down 8.9% – Here’s What Happened

Shares of 2x Ether ETF (BATS:ETHU) dropped 8.9% on Monday . The stock traded as low as $21.08 and last traded at $22.09. Approximately 6,497,615 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 6,567,257 shares. The stock had previously closed at $24.25.

2x Ether ETF Price Performance

The company has a 50-day simple moving average of $24.79 and a two-hundred day simple moving average of $43.23.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ETHU. FNY Investment Advisers LLC purchased a new position in 2x Ether ETF in the third quarter worth $844,000. DRW Securities LLC boosted its position 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 worth $22,085,000 after purchasing an additional 399,265 shares during the last quarter. Jump Financial LLC purchased a new position in 2x Ether ETF in the fourth quarter worth $2,297,000. DGS Capital Management LLC purchased a new position in 2x Ether ETF in the first quarter worth $274,000. Finally, Parallel Advisors LLC boosted its position in 2x Ether ETF by 78.8% in the first 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 last quarter.

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.