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

2x Ether ETF (NYSEARCA:ETHU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $25.02, but opened at $22.69. 2x Ether ETF shares last traded at $22.17, with a volume of 3,126,449 shares trading hands.

2x Ether ETF Trading Down 8.8%

The business’s fifty day moving average price is $54.00 and its two-hundred day moving average price is $97.19.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Flow Traders U.S. LLC acquired a new stake in shares of 2x Ether ETF during the second quarter worth about $2,071,000. Jump Financial LLC purchased a new position in 2x Ether ETF during the 2nd quarter worth approximately $5,094,000. Farther Finance Advisors LLC acquired a new stake in 2x Ether ETF during the 3rd quarter valued at approximately $28,000. Kingswood Wealth Advisors LLC acquired a new stake in 2x Ether ETF during the 3rd quarter valued at approximately $690,000. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of 2x Ether ETF in the 3rd quarter valued at $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.