2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Still a Buy?

2x Ether ETF (NYSEARCA:ETHU) gapped up prior to trading on Wednesday . The stock had previously closed at $63.02, but opened at $67.58. 2x Ether ETF shares last traded at $69.12, with a volume of 1,818,852 shares changing hands.

2x Ether ETF Stock Up 11.7%

The firm has a 50 day moving average price of $61.22 and a 200-day moving average price of $101.89.

Hedge Funds Weigh In On 2x Ether ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jump Financial LLC purchased a new stake in 2x Ether ETF during the 2nd quarter valued at approximately $5,094,000. Flow Traders U.S. LLC acquired a new position in shares of 2x Ether ETF in the second quarter valued at approximately $2,071,000. FNY Investment Advisers LLC purchased a new stake in shares of 2x Ether ETF during the third quarter worth approximately $844,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of 2x Ether ETF during the third quarter worth $690,000. Finally, Beaumont Financial Advisors LLC acquired a new position in shares of 2x Ether ETF during the third quarter worth about $376,000.

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.