2x Ether ETF (NYSEARCA:ETHU) Trading 13.8% Higher – Time to Buy?

2x Ether ETF (NYSEARCA:ETHU) shares rose 13.8% during mid-day trading on Friday . The stock traded as high as $55.90 and last traded at $55.22. Approximately 1,824,226 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 4,515,032 shares. The stock had previously closed at $48.53.

2x Ether ETF Stock Performance

The firm has a 50 day moving average price of $79.90 and a two-hundred day moving average price of $101.53.

Institutional Trading of 2x Ether ETF

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